| A recent study conducted by the Unisys | | | | Credit card skimming at ATMs and gas pumps |
| Corporation shows that identity theft as it | | | | makes it impossible to protect yourself when you |
| pertains to credit card fraud is Americans' number | | | | could essentially be handing your digits over to a |
| one concern. | | | | criminal. |
| When people ask me, "How do I protect myself | | | | Skimming is one of the financial industry's |
| from credit card fraud?" I tell them, "Cancel the | | | | fastest-growing crimes, according to the U.S. |
| card, or never use it." Because that's the only | | | | Secret Service. The worldwide ATM Industry |
| way. | | | | Association reports over $1 billion in annual global |
| Personal security (as it pertains to violence) and | | | | losses from credit card fraud and electronic crime |
| national security have always been a concern. | | | | associated with ATMs. |
| However, this new study shows that people are | | | | Marite Ferrero, a blogger with Finextra, adds, "In |
| more concerned with fraud, and the risk of having | | | | Europe, the points of compromise are |
| their savings depleted by scammers. Not so hard | | | | everywhere: ATM, gas pumps, parking, DVD |
| to believe, what with the number of data | | | | rentals, movie tickets, food kiosks, tolls, buying |
| breaches, and the Madoffs of the world fleecing | | | | metro tickets, and the list goes on... Because of |
| their unsuspecting investors. | | | | chip and pin implementation, the proliferation of |
| 75% of Americans feel that the recession has | | | | stand-alone terminals that accept chip and pin has |
| increased their chances of being victimized by | | | | provided a profitable playground for fraudsters." |
| criminal hackers and thieves. Most are also | | | | While the card holder is generally only responsible |
| concerned their "private" information on a | | | | for the first $50.00 in losses, which is often |
| corporate or bank network may be compromised. | | | | waived by a "zero liability policy," card holders who |
| FBI's Internet Crime Complaint Center's 2008 | | | | don't pay attention to their statements often let |
| Annual Report determined that online fraud | | | | these charges pass and eat them. |
| increased by 33.1% last year. Dollar losses | | | | There are many technologies available to secure |
| resulting from online fraud increased to $265 | | | | credit cards, such as "smart cards" and "chip and |
| million. | | | | pin." However, due to the nature of a credit card |
| Overall, these concerns are valid, due to flaws in | | | | transaction, once the data leaves the card, it's up |
| the system of issuing credit that facilitate new | | | | for grabs. Whatever card security their may have |
| account fraud. Furthermore, account takeover | | | | been is now gone. |
| requires nothing more than access to credit card | | | | Check your credit and banking statements |
| numbers, which are available in hacked databases | | | | carefully. Scrutinize every charge and refute any |
| or susceptible every time you hand your card | | | | unauthorized charges within 30-60 days. Call your |
| over to a gas station attendant. | | | | bank or credit card company immediately if you |
| Viruses in spam or phishing emails continue to | | | | see any fraudulent activity. |
| plague consumers and as scammers get more | | | | Invest in identity theft protection. Credit freezes |
| sophisticated, the chances of getting hooked | | | | or fraud alerts help prevent new account fraud. |
| increase. | | | | Protect your PC with McAfee, or other Internet |
| Banks and business will continue to feel the | | | | security software. |
| pressure as criminals target their clients' data. | | | | |