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Credit and debit card information is just not incredibly secure ...... But it is counterbalanced by the amount of fraud losses due to cheque fraud and direct debit fraud which is much greater than credit card fraud."
Credit and debit card information is just not incredibly secure ...... But it is counterbalanced by the amount of fraud losses due to cheque fraud and direct debit fraud which is much greater than credit card fraud."
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4 comments:
Can anyone (who somehow manged to get hold of my credit card number) use my card number to order something on line? If so, am I liable? (Let's say I gave my credit card number to an insurance company to purchase a travel insurance policy and this person gave it to a third party who made the on line purchase)
"But it is counterbalanced by the amount of fraud losses due to cheque fraud and direct debit fraud which is much greater than credit card fraud." Perry Tancredi, VeriSign's senior product manager for fraud detection.
Counterbalanced???! Counter-balance depicts elements on opposing sides which tend to nullify each other. Credit card, cheque and debit frauds are all on the same NEGATIVE side.
Fraud of all kinds work to the detriment of consumers. The cost of fraud hits the pockets of the consumers eventually and entirely. The consumers MUST insist that it is unacceptable that fraudsters are getting away with bigger and better frauds.
Why should fraud at the current levels (several tens of billions US worldwide), be tolerated when there should have been progressive and relatively cost effective upgrade to the security of these payment instruments? This is especially true in the Internet age.
Any talk that more secure systems incur more costs to the consumers is plain excuse to maintain status quo but with dire consequence.
I believe that credit card companies make sure that cardholders information are secured. They do this to avoid cardholder to change their bank. That's why bank Takes good care of their account
I'm sure that bank do secure our personal information. That's there job but because of the new technology that we have, fraudster were able to steal money from us. That's why bank should need to update their system and tighten their security measures.
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