Answer:
PCI DSS
Explanation:
PCI DSS - Payment Card Industry Data Security Standard
This has been created to make
- card payment secure
- Reduce fraud
Problem:
- Hackers try to control the card to make payments for their goods purchased or to do money transfer for illegal activities.
- the card will be controlled by the criminals and the fund transfer will happen without entering the credentials by the original card holder.
Prevention method:
- merchant seeking for photo-ID at the point of sale.
- including software that can estimate the probability of fraud
- when large transaction is done and distance calculated is greater from the cardholder's home might seem suspicious
- Seeking for pin number of the card during purchase
