| It has been a common refrain throughout the recent | | | | 2. Sign new cards as soon as you receive them. |
| economic downturn: yet another criminal has been | | | | 3. Cut up your old cards into small pieces when you |
| charged with credit card fraud or identity theft. An | | | | receive a new one. |
| August 2009 case in the U.S. saw three men charged | | | | 4. As much as possible, keep your card in sight when |
| with stealing more than 130 million credit card and debit | | | | you make a transaction. |
| card numbers. The card numbers were stolen from | | | | 5. Monitor your credit card statements and inform your |
| Heartland Payment Systems, Hannaford Brothers, | | | | card issuer of any transactions you don't recognize. |
| 7-Eleven and two other unidentified corporate victims. | | | | 6. Never give out your PIN, even if a caller or an |
| While it is unlikely that very many Irish credit card | | | | e-mailer claims they are from your card issuer. |
| numbers would have been stolen, it is not an | | | | 7. Try not to be distracted if someone tries to gain |
| impossibility. The stolen information is the information | | | | your attention as you type in your PIN when using a |
| encoded on the back of the credit or debit card in the | | | | cash machine. |
| magnetic stripe, along with the expiration date. Still, | | | | 8. Keep phone numbers of your card issuers handy in |
| consumers are asked to closely monitor their credit | | | | case your card is stolen. |
| card statements online for any unauthorized charges. If | | | | 9. Thoroughly shred key financial information that you |
| you have been the victim of credit card fraud, you will | | | | are disposing of. |
| be reimbursed the amount illegally charged to your | | | | Credit card fraud is still increasing in Ireland, but it is |
| card. | | | | increasing at a slower rate than it was before the |
| The method used to steal the credit card information | | | | "chip and PIN" system of using cards was widely |
| was a sophisticated hacking technique that took | | | | implemented. In 2006, credit card fraud in Ireland |
| advantage of holes in credit card issuers' security. | | | | accounted for €12 million in losses, and in 2007 it |
| While there isn't much you can do as a consumer to | | | | was €14 million. The latest increase is due to the |
| keep your credit card issuer from being the victim of a | | | | prevalence of "card not present" fraud where card |
| hacker attack, there are steps that all cardholders | | | | numbers are used over the phone or internet rather |
| should take: | | | | than the physical card being swiped. |
| 1. Report lost or stolen cards as soon as possible. | | | | |