Is It Possible That Your UK Business’ Credit Card or Plastic Security Card Might Be Vulnerable to Fraud?
Those running businesses in the UK might tend to think that their staff, merchandise, and customers are safe from trouble so ling as a credit card or plastic security card is in place. A recent report by the US Federal Bureau of Investigation notes that you may not be a secure as you think. For every method that’s been developed for creating plastic security cards, there’s a companion method for defeating it. This piece will investigate how counterfeiters can match methods used to make MasterCard or Visa cards. Since these two cards account for about 65% of all the outstanding credit card debt in the US, most fraud schemes are centered on one or both of these entities. The implication is clear: If it can happen to Visa and MasterCard, it can happen anywhere.
At one time, a printed logo and background on a piece of blank, white plastic was all it took for forgers to pass fake cards off as legitimate. Now, the scammers have become acquainted with the latest technological tricks – such as embossing and lamination. Sophisticated thieves can also place holograms and magnetic strips on counterfeit cards, giving them an even more realistic look. Scam artists can utilize computers, blank cards, and printers to develop extremely sophisticated forgeries. Forgers can now put forth amazing duplicates with just some cards, printing equipment, and computer technology.
To counter this, there’s a new generation of plastic credit card technology that contains a computer chip instead of a hologram. This “smart card” will have a chip that can secure information for you – though you do have to use a (personal identification number) PIN to gain access to your card.
Any UK business owners who work with a plastic security card must take measures to ensure that their plastic card is the real thing.