Debit card fraud plummets

Interac Association says Interac debit card fraud losses, as a result of skimming, are at their lowest level on record since 2003 — falling to $38.5 million in 2012 from a high of $142 million in 2009. This represents fewer than one per cent of domestic Interac debit card volume and the lowest volume of fraud losses since data was first recorded in 2003.

Interac Association says Interac debit card fraud losses, as a result of skimming, are at their lowest level on record since 2003 — falling to $38.5 million in 2012 from a high of $142 million in 2009.

This represents fewer than one per cent of domestic Interac debit card volume and the lowest volume of fraud losses since data was first recorded in 2003.

In addition, says Interac, the number of cardholders reimbursed fell to 93,800 in 2012 from 238,000 in 2009.

Caroline Hubberstey, the head of external communications for Interac Association, says the ongoing conversion to chip technology is a vital tactic in the fraud prevention strategy.

Interac says unlike a magnetic stripe, chip technology makes it extremely difficult to copy and reproduce.

By the end of January, 99 per cent of all active Interac debit cards 99.6 per cent of automatic banking machines (ABMs) had been converted to chip.

Just Posted

Updated: Red Deer welcomes 2019 Canada Winter Games Team Alberta

About 250 Alberta athletes are participating in the Games

Syrian immigrants feel welcomed

Winter Social held at Festival Hall to promote multiculturalism

Small group rallies with pro-immigration message

Group wanted to counter misinformation on United Nations migration agreement

Trump says ‘things are going very well’ with North Korea

WASHINGTON — President Donald Trump said Saturday that “things are going very… Continue reading

NDP won’t stop until Trans Mountain is built, says minister

Deron Bilous speaks at Red Deer chamber luncheon

VIDEO: Students in MAGA hats mock Native American at Indigenous Peoples March

Diocese in Kentucky says it is investigating the matter, caught on video by onlookers

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

Anxiety in Alaska as endless aftershocks rattle residents

Seismologists expect the temblors to continue for months, although the frequency has lessened

Women’s March returns across the U.S. amid shutdown and controversy

The original march in 2017, the day after President Donald Trump’s inauguration, drew hundreds of thousands of people

Kriechmayr edges Swiss favourite Feuz to win WCup downhill

WENGEN, Switzerland — It takes a special run to beat Switzerland’s best… Continue reading

WestJet plane heading to Victoria slides off Edmonton runway, no injuries

EDMONTON — A WestJet plane has slid off an icy taxiway at… Continue reading

Sam Bennett scores twice, Flames beat Red Wings 6-4

Flames 6, Red Wings 4 CALGARY — Sam Bennett scored twice including… Continue reading

Rare ‘super blood wolf moon’ takes to the skies this Sunday

Celestial event happens only three times this century

Most Read