Cyber thieves target debit cardholders

By Nigar Orujova - AzerNews 

While the online payment system entered the lives of Azerbaijanis not long ago, it has proliferated quickly and is now used to pay for utilities and many other things. People now use their debit cards to pay bills online without hesitation, which could pose dangers for their wallet.

Experts believe that each year, cybercriminals steal about 6-7 million manats ($6-7 million) from the bankcards of Azerbaijani citizens. This sum maybe not big on a global scale, but for a country of nine million people, it cannot go undetected.

Today, there are more than 5 million bankcards used in Azerbaijan, 80 percent of which are debit cards, and the rest credit cards.

Despite being a new thing in Azerbaijan, noncash settlements have become a favorite method of payment in the country for many people, especially for online shopping. However, not many people realize the consequences it could bring, namely cyber theft.

Today, a large number of websites offer us to buy their products or services, and customers should remember that not all websites are safe. When people enter all of their bankcard data into such a website, they could potentially be robbed of the entire amount on their card.

This theft does not look like underground pickpocketing. Victims do not lose all their money at once, which is why it is more dangerous, as some people do not seem to notice the slight drop in balance from their bankcards.

Even notification systems on credit cards cannot always prevent theft, as many scammers have figured out ways to avoid it.

To avoid this undesired situation, people are first and foremost encouraged to have a special card for online shopping and not use their debit cards when purchasing goods and services on the internet.

Consumers should also be confident that the website they are purchasing from is protected by certified security system. It is advisable to use an intermediary like PayPal, which allows payments without sharing financial information.

While the extent of cyber crime involving the theft of money from debit cards in Azerbaijan is not yet on a massive scale, it is only a matter of time until cybercrime becomes a serious issue for the country. As the cybercrime is increasing in popularity throughout the world, there is a need to take preventative measures at the legislative level in Azerbaijan, experts believe.

Nevertheless, as such cases became more frequent in Azerbaijan, the country’s banks have adopted measures to recover money stolen from their customers.

Chargeback is also available for Azerbaijani customers who have become victims of online thief. To recover the money, the debit cardholder should first block their card, then approach his/her bank.

The bank will investigate the case for some three weeks and if the theft is proven and reimburse the client. In general, it is not the bank’s fault, as the customer engages in some degree of risk when shopping online. The money is usually stolen from debit cards by foreign scammers, and local law enforcement simply cannot reach them. Thus, people should be more careful to protect their money and nerves.