| nd more we are becoming a cashless society. Almost | | | | They sometimes place an invisible strip where the card |
| every purchase we make now days is on the card | | | | is entered and commit fraud that way. The advent of |
| whether that is a credit card or a debit card. To try to | | | | chip and pin has also generated a rise in phishing, this is |
| limit credit and debit card fraud, the powers that be | | | | where fraudsters get hold of your email address and |
| introduced Chip n pin so that you no longer sign for | | | | send out emails claiming to be from a bank and asking |
| your purchase, you just enter your secret pin number | | | | for you to click and check your account details. Once |
| and away you go. Best keep it safe from prying eyes | | | | a person clicks on the link, they are redirected to a |
| though there are both advantages and disadvantages | | | | fraudulent site, If they then give out their account |
| to the use of Chip n pin and this article will explore | | | | details, they are in danger of having their bank account |
| some of them. | | | | raided. |
| Advantages | | | | Conclusion |
| The chip n pin prevents anyone from copying your | | | | In some respects, the introduction of chip and pin does |
| signature. Before chip n pin, if you went into a | | | | make life a bit less complicated and certain forms of |
| restaurant, your card was often taken away from you | | | | credit and debit card fraud have decreased. On the |
| and details entered out of your sight only to be | | | | other hand, this has encouraged fraudsters to become |
| returned for a signature. This did result in a number of | | | | ever more creative in designing ways to illegally |
| frauds perpetrated on customers who paid their bill in | | | | access other people's money. While we are constantly |
| this way. With the arrival of chip n pin, the card remains | | | | warned about keeping our details secret and safely |
| with the customer and there is no signature needed. It | | | | disposing of letters from the bank and credit card |
| also makes it harder for a thief to use your card | | | | statements, people are still being defrauded of their |
| unless they have your personal pin number. Certainly, | | | | money. These days, if you don't have a bank account, |
| both credit and debit card fraud has been reduced | | | | a lot of doors are no longer open to you buying over |
| since the introduction of chip and pin. | | | | the internet or having a mobile phone contract, for |
| Disadvantages | | | | example. Chip and pin may not be a hundred percent |
| While credit and debit card fraud has gone down with | | | | secure, but if we take precautions in other areas, our |
| chip and pin, at the same time, cashpoint fraud has | | | | money is probably safer than it was before the |
| gone up. They use hidden cameras sometimes so that | | | | introduction of this way of using your cards. |
| they can see which keys are pressed for the pin. | | | | |