If you are a confirmed victim
of debit card fraud and you have met your obligations under CIBC's Convenience Banking Service Agreement, you will not be held liable for the associated losses.
Of the $ 1.77 billion in losses to bank accounts in 2012,
debit card fraud made up 54 percent, compared with 37 percent for check fraud and 9 percent for online banking and electronic transactions.
If you are worried about credit and
debit card fraud look at what policies are available and also what is included with your home contents insurance as well as being careful to keep your credit card in a safe place.
Among those who reported being a victim of financial fraud, credit card fraud had the highest incidence rate (74 %) followed
by debit card fraud (28 %).
Credit and
debit card fraud totaled $ 4.5 billion in 2016, according to a report by iovation, a provider of digital intelligence for fraud prevention.
Canada adopted the chip technology in 2009 and since that time,
debit card fraud in that country has dropped by 45 percent, Golden said.
And if the crooks can't find their way into your company, they'll simply go after the customers directly: Credit and
debit card fraud is becoming rampant, some say because outsourced, offshore businesses with lax (or no) security measures now process the bulk of card payments.
With the dangers of credit and
debit card fraud, we've decided to put together this infographic to help our readers fight back.
Have you been a victim of credit or
debit card fraud?
More often than not,
debit card fraud is not detected until a monthly bank statement is received and balanced showing the discrepancy.
To assuage the fear of
debit card fraud, FNBO Direct offers free debit card fraud monitoring services.
According to the FTC, your maximum loss due to
debit card fraud is $ 50 within two days after you learn of the loss or theft, or $ 500 if you report the fraud between two and 60 days after you notice it.
And if you do somehow fall victim to
debit card fraud, leaving all your money in a checking account makes it very easy for the fraudster to steal everything you have.
And
debit card fraud is particularly scary because thieves can withdraw money directly from your checking account.
Representing banks that are exposed to litigation arising out of their operations and relationships with customers, including claims for account fraud, check fraud and forged instruments, wire / electronic transfer fraud, credit and
debit card fraud, ATM fraud, and for alleged violations of check - handling and security procedures.
With the advent of online purchasing, credit and
debit card fraud have become complex areas of our white collar criminal defense practice.