What’s the Chip in Your New Credit Card Do?
The microchip on your debit or credit card helps make it more difficult for fraudsters in two important ways. It makes it harder to physically counterfeit the card and it creates a unique transaction code that’s passed to the merchant every time you make a purchase with the card. Stealing a unique transaction code and using it for fraudulent purchases is like having an expired password: it won’t do anyone any good.
Criminals Use Charity Websites to Test Credit Card Numbers
If your credit card bill contains an unauthorized donation to a charity, you are not alone. New information reveals that criminals are using unsecured charity websites to test stolen credit card numbers on a global scale. Many charity websites have simplified their donation platform to encourage more people to give to their organizations. This added convenience comes at a price though, costing some organizations thousands of dollars due to false donations made to their websites. Cyber criminals are beginning to take advantage of the limited security measures on charity websites to verify the validity of stolen credit card numbers so they can be used for future fraudulent purchases.
The post This Week In Credit Card News: Thieves Test Cards On Charity Sites; Why Your Chip Card Is Safer appeared first on Liberty Investor™.