Consumer Payment Card News

Fraud Prevention Month

If you’re north of the border, your Fraud Prevention Month is coming to a close at the end of March. But according to the Interac Association, this doesn’t mean the security of your debit card should come to a close. The Association is advising you to remain vigilant about debit card security year-round and is consequently providing a few tips to keep in mind. For starters, avoid an unnecessary swipe of your card and reduce the potential of fraudulent card skimming by inserting your chip debit card into a merchant’s terminal. Also, when entering your PIN at a terminal or ATM, shield your PIN with your hand or body; check your statements; memorize your PIN and change it frequently; always keep your card in sight and report it immediately if it’s ever lost or stolen. Keeping these helpful hints in mind is sure to sustain the decrease in dollars lost to debit card fraud, which was down 16% from $142.3 million in 2009 to $119 million in 2010. It’s up to you weather or not you will be the next card fraud victim.

Leave A Reply