How Remote Control Debit and Credit Cards Can Combat Fraud in Your Credit Union
Card data breaches in the US are at record highs: In the first six months of 2017, an estimated 791 data incidents occurred, coming in at 29% more than the same timeframe in 2016. According to the report in Forbes, we are on track to witness more than 1,500 total breaches in 2017... 37% higher than last year, which holds the current record of 1,093. The article highlights the worsening conditions for credit card holders: There are now online classes teaching hackers how to perform the cybercrime of "Carding." In a six-week program, taught in Russian, for $945 aspiring hackers can take 20 different lectures on finding legitimate credit card data for sale and hacking into PayPal accounts. Credit card fraud is estimated to cost $24 billion in 2018! Now more than ever your credit union must help shield members as best as you can from such dangers, and offering remote control cards to shut down access to their accounts when they are not using them is the first step.