Saturday, October 07, 2006

Hillary Calls for Better Protection on Debit Card Transactions

NY1 news is reporting that Hillary Clinton is pushing a bill that would give debit-card holders the same protection as those who use credit cards.

Link, here.

We've seen a lot of activity recently, where debit cards were compromised in a variety of schemes. The article states there was 2.75 billion dollars in fraud attributed to this in the United States last year. Note that this doesn't take into account that this isn't just a problem in the United States.

Besides entire point of sale systems being hacked, ATM skimming seems to be happening at an alarming rate. Here is a post (along with pictures), illustrating how this can happen:

ATM Machines That Clone Your Card

If you are interested in learning what the differences are in protection, US PIRG has some good information, here.

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