CYBERCRIME Taking a swipe at fraud: 3 things to know about new, smarter debit, credit cards By Ellen Richey Published June 10, 2014 Twitter It’s been more than six months since the spate of large retailer data compromises that prompted many consumers to question whether it is safe to use their debit and credit cards in stores. One positive from those unfortunate events is that we are seeing accelerated momentum around launching new payment technologies that will help prevent such events from happening again. Today, advanced technologies work behind the scenes, continuously monitoring for potential acts of payment fraud – something I’m sure many of us have likely benefitted from when we receive a text alert or phone call asking us to verify a purchase. As a result, fewer than five percent of accounts exposed in data compromises have fraud resulting from the breach. And when fraud does occur, financial in stitutions ensure fraud victims are not financially responsible for someone else running up charges on their account.
Posted on: Sun, 28 Dec 2014 20:15:45 +0000
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