Holiday Security Tips: On the fourth day of Christmas, the experts gave to me, 4 pay solutions!
True or False?
When you use a debit card, funds are more secure because they are drawn directly from your bank.
False. While it’s true that funds are drawn directly from your bank, it actually makes it harder to get the money reimbursed while the issue is being resolved if fraud does occur.
You can receive a reimbursement for debit card fraud up to a year later.
False. Debit cards generally only reimburse fraudulent purchases if you catch them within 60 days.
It is safer to use a credit card than a debit card.
True. When you use a credit card, nothing is withdrawn from your bank account immediately. Pending transactions can take several days to clear. In addition, credit cards uniformly give you more protection than debit cards and your maximum liability is capped at $50.
Posted in Identity Theft Prevention by Identity Theft Speaker John Sileo.
Tags: "High security checks", “Holiday ID Theft”, “Online scams”, “Prevent Identity Theft”, “Preventing Identity Theft”, Black Friday, Checks, Credit Cards, Cyber Monday, Debit Cards, holiday, Holiday Identity Theft, Holiday Scams, holiday security tips, Holiday Shopping, John Sileo, Sileo
In a town with a population of about 3,000 people it seems that almost all the citizens of Bennett, Colorado have had their identity stolen. The scheme was simple and it was easy to fall victim. Identity thieves apparently used skimmers to extract credit and debit card numbers from individuals. Skimmer scams can happen when the criminal installs a “skimming” device over the card slot of an ATM, debit or credit card reader. The skimmer then reads the magnetic strip as the user unknowingly passes their card through it.
In the case of Bennett, Colorado it is believed that this was done at a local King Soopers gas pump. The skimmer is gone now and authorities are on the hunt for the thief. King Soopers has denied that any of the fraudulent activity happened at their gas pumps and authorities have also said that they knew this was a crime spree for the past few weeks. In the meantime, many of the victims who used debit cards are without those funds because its the same as using cash. The average amount stolen was around $700 and more people are coming forward every day.
Posted in Identity Theft Prevention by Identity Theft Speaker John Sileo.
Tags: Bennett, Colorado, credit card fraud, Debit Cards, Fraud, identity theft expert, Identity Theft Prevention, John Sileo, Skimmers, Skimming
