The verification code is one of the security measures used to prevent credit card fraud.
It consists of a three or four letter code printed on the front or back of a credit card.
According to the latest Nilson report, credit card fraud cases continue to rise, reaching nearly $29 billion in 2019 and are projected to grow to around $38 billion by 2027, with the United States accounting for a significant portion of the majority of cases, about which have been recently reported. loss, about 34%.