Why is the credit card security code secure??

Skitourer

The security code on a credit card (CVC2, CVV2 etc...) is supposed to make transactions more...erm...secure. What is it about this code that makes it any more secure than the credit card number on the front? When you make a payment, you have to provide the number and the security code. So if somebody wants to commit fraud, then you've supplied both numbers, and they can use both numbers. How is that more secure?
It's almost as if the CC companies are saying "a 16-digit number is not secure, but a 19-digit number...now that's super secure!"
Or "If we put a big bit of your number on the front of the card, and a little bit of your number on the back of your card, it'll be more secure"
Cheers

Ben8282

The purpose of the code is to confirm that you actually have the card in your possession at the time of making the transaction. If an individual had obtained other information such as the card number, your name and address from another source (an old statement stolen from your dustbin etc) they would not have the code number printed on the back of the card.
Your are correct that if somebody wants to commit fraud and you have supplied both numbers they can use both numbers. The solution here is not to give both numbers to individuals or organisations you suspect are likely to commit fraud.

nidO

The CVV numbers are separate from the main card number, basically.

Yes, if you give your card number plus CVV to someone dodgy they can use those details to commit fraud.

In all other cases though, the CVV is a separate barrier - Your card's CVV number is not found on your card statements, on your online banking, or in the databases of merchants who store card info for later use (card providers are not allowed to store CVV numbers, which is why places that actually use CVV checking and who store your card details will ask you to re-enter your CVV number when making a new payment, as they don't have it).

The idea of this is that while the combo of your card number and name/address can theoretically be obtained relatively "easily", most of these methods do not also provide your CVV number, meaning the only place this exists is on your actual card.

Alexd52

In addition to the above, whenever you receive a new card, due to expiry of old one, it will have a new cvv number

Skitourer

Clear...thanks!

C_Mababejive

Surely the most secure thing to do is make a separate note of the CVV and then obliterate it from your card? This would save unscrupulous people from recording the details. Its very easy to photograph both sides of a card with a smart phone these days.

maniacmartin

The CVV is also not stored on the magnetic strip or chip, so even if a bricks and mortar store has a dodgy card terminal, they can't get this information unless they use human eyeballs

cheesetoast

Skitourer wrote: »

"If we put a big bit of your number on the front of the card, and a little bit of your number on the back of your card, it'll be more secure"
Cheers

Except for that Amex puts it on the front

LuSiVe

My (now expired so don't try anything ) smile card had the CVV as 123. Which is probably what you'd type in as placeholder if you didn't know it.....

chattychappy

Isn't it also the case that merchants are not meant to store CVVs after authorisation has been obtained, so there is an additional protection against staff fraud, data theft etc.

Some websites (eg when paying Barclaycard by debit card) retain card details but need you to re-enter the CVV each time. In the case of Amazon, they don't bother with CVVs at all.

stickshaker

Having it separate from the main number must help with third party fraud but doesn't stop someone who has your card from using it. Best idea seems to be to memorise the number and erase it - can't yet see where that could fall down.