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Credit Card Companies boosting their security for consumers

Published March 14th, 2007 in Privacy

While the article is primarily focused on Canadian residents, I would not be surprised at all to hear more articles like this in the United States. Then again, US credit card companies such as Visa are already working further securing their cards by embedding chips so that theft and counterfeiting becomes extremely difficult. It just goes to show you that fraud has no boundaries.

Credit card companies are stepping up their efforts against fraud in light of recent breaches at Winners and other retailers.

Crooks made off with more than $291 million in Canada last year, according to Visa Canada.

“This money is used to support criminal endeavours: Drugs, buying weapons and terrorism,” said Gord Jamieson, Visa’s director of risk and security.

Representatives from Visa are making a cross-country tour to teach merchants and consumers how to protect themselves from scams, and warning them of the danger of complacency. The Visa group stopped in Regina on Monday to spread the word about Fraud Prevention Month.[more]

Tags: Privacy

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