Prevention of Swipe Card Misuse in Case of Its Theft

PREVENTION OF SWIPE CARD MISUSE

IN CASE OF THEFT

ABSTRACT

The advent of swipe cards has created a great revolution in purchase of products. The swipe cards are widely used in these days for e-purchasing. But this makes the swipe card prone to get misused. It just includes an alert message that the amount has been debited and the shop from where the product is purchased. There is a severe disadvantage that it could not ensure that the legitimate user/owner of the card is only swiping and debiting the amount from the card. Our system overcomes this drawback by adding features to ensure that only authorized users are debiting amount from the cards and misuse is prevented. Our system also makes sure that the person who misused the swipe card is caught and security is enforced.

TABLE OF CONTENTS

CHAPTER TITLE PAGE

ABSTRACT iii

LIST OF TABLES iv

LIST OF FIGURES v

LIST OF ABBREVIATIONS vi

1. INTRODUCTION 1

1.1 OBJECTIVE 2

2. EXISTING SYSTEM 3 2.1 TYPES OF CREDIT CARDS 3

2.1.1 CHIP CARDS 3

2.1.1.1 Security in Chip Cards 5

2.1.2 MAGNETIC STRIPE CARDS 5

2.1.2.1 Contents of Magnetic

Stripe Card 7

2.2 WORKING OF CREDIT CARD SYSTEMS 9

2.3 STATISTICS OF CREDIT CARD USERS 10

2.4 CREDIT CARD MISUSE 11

2.4.1 IDENTITY THEFT 12

2.4.1.1 Application Fraud 12

2.4.1.2 Account Takeover 12

2.4.2 SKIMMING 12

2.5 DRAWBACKS 13

3. PROPOSED SYSTEM 14

3.1 FEASIBILITY STUDY 14

3.1.1 TECHNICAL FEASIBILITY 15

3.1.2 ECONOMIC FEASIBILITY 15...