Tuesday, August 18, 2009

The Debit Cloud

For the longest time I noticed that fewer of us carry cash around and pay for everything with our debit cards. Yet, in the last year, I am running into more people who are switching back to cash. Even the new "chip" in the debit and credit cards have done little to stop rampant fraud. In the past year I have had my debit card compromised twice and the year before twice as well. In all cases I ended up not losing any money but some people are not so lucky.

Often times the criminals get your card by replacing the portable reader at the location with a fake that captures your information. Despite the fact that this is now, or damn well should be, well known many stores remain complacent.

The best advice that I can think of would be:
  • Do not use a debit machine from a store that you notice is unmarked and left out in the open. All stores should keep the machines either strapped down or individually marked to prevent duplicates.
This might be a hassle but stores are just begging for a problem if they do not watch out for their machines. Now all of this raises much bigger issues, that I am not going to cover in this short post, such as the security of our on-line credit.

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