Consumer Tips: Debit Card Fraud

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 by: News Canada

(NC)-With approximately 36,000 ABM machines, and some
460,000 direct payment terminals in more than 350,000 businesses across
Canada, it's not surprising that Canadians are the highest per-capita
users of debit cards in the world. Recent media stories have reported
debit card fraud and the need for consumers to take proper precautions
to protect themselves.

Beware of retailers that swipe your card twice. The
second swipe may be on a card reader that skims your personal bank
information from the magnetic strip. Thieves create fraudulent cards
with this information, which enables them to take money from your bank
account. First, however, they must get your personal identification
number, or PIN.

They do this by what is termed "shoulder-surfing"
(peering over someone's shoulder when they punch in their four-digit
personal identification numbers), in some instances they also use
concealed cameras, installed in the ceilings above automated teller
machines, which photograph the PINs.

Follow these tips to protect your money and your debit cards against fraud and misuse:

• Never disclose your PIN to anyone - including family, friends, financial institution employees or law enforcement agencies.
  

• Keep your debit card in a safe place and never
  lend it to anyone. If you suspect that someone knows your PIN, change
  it immediately or contact your financial institution to cancel the
  card.
  

• Memorize your PIN. Avoid writing down your
  PIN. If you must do so, make sure that it is well disguised, for
  example, by re-arranging the numerals or substituting other numerals or
  symbols, and by keeping it within a record of other information.

• When selecting a PIN, do not use obvious
  information. You could be liable if you use your name, address,
  telephone number, date of birth or social insurance number.
  

• If your card is lost, stolen, retained by an
  ATM, or you find that there has been an unauthorized transaction,
  notify your financial institution immediately.

• If you have made a purchase which does not
  appear on your monthly statement, change your PIN immediately and
  notify your financial institution as the information on your card and
  PIN may have been stolen at a bogus machine.
  

For more information on common fraud and scam practices, and
how to best prevent them, visit the Canadian Consumer Information
Gateway at ConsumerInformation.ca,
a Web site developed by Industry Canada's Office of Consumer Affairs.
Created by federal, provincial, territorial governments and their
partners, it provides Canadians with access to hundreds of objective,
reliable, current consumer information sources.

About the Author

News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web.

News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services.

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