Don’t Get Burned By Debit Theft- Part Three

In the last two series of articles I spoke about debit identity theft and how to prevent it. This is the last story of the series.

DO be on edge when there is an opportunity for anyone to look over your shoulder to track your PIN number. Also, seriously consider the pros and cons before you utilize your debit card at a restaurant, where the server takes your card out of your sight and you are unable to actually see him swipe it, or at gas stations, where surveillance cameras can record you punching your PIN into the machine.

Don’t blindly use your debit card for shopping online. Make sure you are only utilizing a debit card when you shop at well established, trusted sellers. If you do not know a site, before you enter your debit card number, look at the bottom of the web page for security seals from companies like PCI Compliance, Truste, or VeriSign. Keep your eyes peeled though. A number of fake sites will only cut and paste logos. Click on the link for the logo if you are not one hundred percent sure. If it is the real deal it will direct you to that website’s security verification.

The Federal Trade Commission has crafted new regulations for merchants that take effect June 1st that will require that financial institutions set up checks that will set off a response if a customer’s card is used fraudulently. This new mandate, commonly called the “red flag rule” should be of help, but thieves are clever and illegal charges can sometimes make their way out of the woodwork.

Getting victimized by debit card theft can alter the way people buy in future scenarios. Some identity theft victims say that they only pay by cash, check or credit card. Not having a debit card has the capacity to be a hassle at times, especially if it has to do with writing a check and waiting for it to be approved. But it might just be worth your peace of mind. It is always a wise idea to be savvy about your finances.

Rapid Recovery Solution is a commercial debt collection company.