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Pilot project demos credit cards with shifting CVV codes to stop fraud
US-based PNC Bank is in the middle of a pilot project that aims to test out credit cards with constantly changing card verification values (or CVVs) to reduce online credit card fraud. The dynamic CVV is displayed on the back of such a card in e-ink, and changes according to an algorithm supplied by Visa.
[...] A static CVV number can provide some protection from online fraud, but sometimes CVVs can be stolen in tandem with the card number. Worse, researchers have shown that Web bots making random guesses on legitimate websites can often come up with the appropriate CVV and expiration date to pair with a card number.
A dynamic CVV should—at least in theory—be far more difficult to guess and use. The idea of a dynamic CVV isn't new: the cards are being supplied by a company called Idemia, which announced its "Motion Code" dynamic CVV cards in 2016. Since then, Visa has detailed a specification for the dynamic CVV pairing, called dCVV2, and Visa is also a partner in getting this pilot project off the ground.
(Score: 0) by Anonymous Coward on Sunday December 30 2018, @03:21AM
Shotgunning is a minority of online credit card theft. It requires more resources, more exposure, and does not have the same return as bruting does. Sure, those economics might change when iCVV or dynamic CVV is more widespread, but as it stands it is in the minority.