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Why do hackers target credit card information instead of personal information?

Cherie MacCard

Well, as a regular user of social media, I have come across hackers and their ways of circling and stealing personal and credit card information. There could be several reasons why hackers focus on credit card information over personal information. Firstly, credit card information is more lucrative for cybercriminals as they are linked to tangible financial gain. They can use this data to conduct fraudulent activities such as making unauthorized purchases and emptying the victim's bank account. In contrast, personal information such as home address, phone number, and email address may not be as profitable as credit card details, as cybercriminals need to find a buyer for such information.

Secondly, stealing credit card information is relatively more comfortable and straightforward for hackers as compared to personal information. Credit card information mostly comprises sixteen digits and an expiration date, while personal information involves a vast array of data points such as social security number, date of birth, driver's license number, and passport details. Therefore, it is easier for hackers to obtain credit card details with a mere phishing attack or hacking of a less secure website. In contrast, acquiring personal information requires a more targeted approach, which may also involve social engineering tactics such as emailing or calling the victim to extract data.

Thirdly, credit card information is often stored online or on digital devices. In today's world where online shopping has become the norm, it is not uncommon for individuals to store their credit card details in online wallets such as Google Pay, Apple Pay, and Amazon Pay. Furthermore, merchants and retailers also keep customers' payment data to streamline the checkout process and make it more convenient. Cybercriminals, therefore, often focus on hacking into online payment systems or infiltrating retailers' systems to obtain this valuable information. In contrast, personal information may not be available online, and hackers would need to dig through a variety of sources such as public records and social media accounts to obtain this information.

Finally, hacktivists and cybercriminals that target credit card information often have a more significant impact on both the targeted individual and the broader society. Such attacks disrupt the financial system and cause severe financial losses, which may take years for individuals to recover from. On the other hand, stealing personal information may only affect the victim's privacy and lead to identity theft, social engineering scams, and phishing attacks.

In conclusion, hackers target credit card information instead of personal information because it is more profitable, easier to obtain, and more accessible online. As a social media user, it is crucial to be vigilant of cyber threats and adopt best practices such as not sharing sensitive data online, using strong and unique passwords, and keeping software up-to-date.