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Pin or No Pin - Which is Safer?
Posted on Jun 16, 2007 by Michelle Pastor
I often get the question, “should I enter my pin number at the store for extra security with my debit card?”. The answer is contrary to what you might think. Don't use your pin number!
A question and answer column sums it up best.
In February (referring to a scam where PIN numbers for debit cards were used to withdraw thousands of dollars from checking and savings accounts of several Delaware banks after shopping at Rite Aid and TJX Cos.), the compromise occurred because those customers who choose to enter their debit card and PIN had their checking account number, bank, and PIN entry recorded by the thief's recorder at the merchant's payment terminal. Once the thief had that data, making up a dummy plastic card suitable for ATM cash withdrawals was easy. The victim walked away with his debit card, not realizing it had been compromised, with his checking account at full risk, including any overdraft protection.
Filed under: Credit, Fraud, Identity Theft, Scams
Tags: debit, identitytheft, idtheft, pin
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