How Useful Is Card Verification Value (CVV2) for Fraud Protection?
Starting in the late ’90s, most credit cards now include a 3- or 4-digit verification number, which is not part of the regular credit card number. This system seeks (1) to make sure that the purchaser has the physical card in hand when placing a phone, mail order, or Internet order, and (2) to verify that the card account is legitimate. The number is not contained in the magnetic stripe information nor does it appear on sales receipts.
