As more individuals are utilizing credit and debit cards as forms of payment, it is just a matter of time before one becomes compromised by the so called bad actors. Credit and debit card fraud can be caught early by routinely checking for signs of shady activity on your accounts by reviewing monthly statements. Security Savings Bank Vice President Dorothy Ricketts says new technology is also on the rise to lessen the exchange of information:
“The tap to pay is interesting because it takes away the opportunity for the skimmer to grab all your card information. There can be what they call skimmers placed on ATMs or merchant equipment that can grab all your card information once you insert the card, so by being able to tap, you are bypassing that opportunity. Skimmers are very small and lots of merchants and gas stations and ATMs, you don’t even realize they are there as the standard user. That is one step they have taken that is being more universally adopted to bypass the opportunity for skimmers, so there is less information interchanged there.”
If you suspect your credit or debit card has been compromised, contact your local banker immediately.
