Over 84% of Canadian adults have at least 1 debit card and
about 74% have at least 1 credit card. Despite the convenience and popularity
of these cards, there is a risk of fraud. It is important to protect your
cards, just as you would cash or cheques. Some of the risks associated with
debit/credit card fraud are the same as carrying around your account numbers,
so protect your card information in your wallet, online and over the phone.
There is, however, another threat to card users that is
unique - it's called "skimming." Skimming occurs when thieves set up
a device that captures the magnetic stripe and keypad information from point of
sales terminals. It is important to
note that debit card fraud has been decreasing in Canada because of the conversion away
from magnetic striped to chip cards, but skimming with magnetic stripe cards
still occurs. By doing the following you
will reduce the risk of having your information stolen.
