Fraud comes in many forms, and one type that is making a significant comeback is “card not present” fraud. An increase in online shopping and other types of transactions where the physical credit card and cardholder do not need to be present are providing opportunities for criminals.
This is where the CVV2 (Card Verification Value 2), or three-digit security code on the back of your Visa or Mastercard comes in. This number is the key to keeping your credit card information yours, and it is important that you keep it concealed.
The Government of Canada has provided a comprehensive summary of card not present fraud, as well as some helpful tips for staying fraud-free.