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Thread: Target Confirms Major Card Data Theft during Thanksgiving

  1. #31
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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by MMC View Post
    The Good news here I guess.....is we haven't had a lot of members saying they were out using the card.

    The real problem are those Debit cards. At least we have some thing s up that can help people out.


    Debit vs. credit cards: Which is safer to swipe?

    While the tens of millions of Target shoppers who had their credit and debit card information stolen likely won't be on the hook for any fraudulent transactions that may occur, debit card users could face much bigger headaches than credit card users.

    That's because debit and credit cards are treated differently by consumer protection laws. Under federal law, your personal liability for fraudulent charges on a credit card can't exceed $50. But if a fraudster uses your debit card, you could be liable for $500 or more, depending on how quickly you report it.

    "I know people love their debit cards. But man oh man, they are loaded with holes when it comes to fraud," said John Ulzheimer, credit expert at CreditSesame.com, a credit management website.

    Yet, if a crook uses your debit card, not only can they drain your bank account, but it can take up to two weeks for the bank to investigate the fraud and reimburse your account.

    "In the meantime, you might have to pay your rent, your utilities and other bills," said Beth Givens, director of the Privacy Rights Clearinghouse. The organization recommends that consumers stick to credit cards as much as possible.....snip~

    Debit vs. credit cards: Which is safer to swipe? - Dec. 20, 2013
    Thanks MMC, I never use a debit card, ever anyway. Was just wondering about that chip card he was talking about?!

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by Montecresto View Post
    Thanks MMC, I never use a debit card, ever anyway. Was just wondering about that chip card he was talking about?!
    American CC are based on a magnetic strip. Easily hackable. European credit cards have this strip also, but it is rarely used as we have smart chips.

    Smart card - Wikipedia, the free encyclopedia

    The same tech is used in many different card types... satellite systems, insurance (at least over here) and so on and can hold far more information on the chip.

    Basically it is called "Chip and Pin", where the transaction only happens if you have the correct pin and card. Much like an ATM (even in the US). It is much more secure than the traditional swipe credit card in the US.
    PeteEU

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by PeteEU View Post
    American CC are based on a magnetic strip. Easily hackable. European credit cards have this strip also, but it is rarely used as we have smart chips.

    Smart card - Wikipedia, the free encyclopedia

    The same tech is used in many different card types... satellite systems, insurance (at least over here) and so on and can hold far more information on the chip.

    Basically it is called "Chip and Pin", where the transaction only happens if you have the correct pin and card. Much like an ATM (even in the US). It is much more secure than the traditional swipe credit card in the US.
    Mornin' Pete. Well.....you see they really aren't going to do anything here in the US until around 2018, and that's a maybe too.

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by MMC View Post
    Mornin' Pete. Well.....you see they really aren't going to do anything here in the US until around 2018, and that's a maybe too.
    Yea, it is easier to eat the loss of the massive fraud than pay to upgrade the system to a more secure one... sad world is it not? That attitude was the same that the car manufactures had with the exploding gas tanks... cheaper to pay compensation to victims than do a recall...pathetic.
    PeteEU

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    Re: Target Confirms Major Card Data Theft during Thanksgiving

    Quote Originally Posted by PeteEU View Post
    American CC are based on a magnetic strip. Easily hackable. European credit cards have this strip also, but it is rarely used as we have smart chips.

    Smart card - Wikipedia, the free encyclopedia

    The same tech is used in many different card types... satellite systems, insurance (at least over here) and so on and can hold far more information on the chip.

    Basically it is called "Chip and Pin", where the transaction only happens if you have the correct pin and card. Much like an ATM (even in the US). It is much more secure than the traditional swipe credit card in the US.
    Oh I see, that's cool. Makes sense and yeah I'd like to see that here. Thanks Pete.

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    Re: Hope you didn't go to Target on Black Friday

    For you guys that live in the US, how many of your cards have the chip as opposed to only the strip on the back?

    Here in Mexico we switched to all cards having the chip 2 years ago.

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    Re: Hope you didn't go to Target on Black Friday

    Quote Originally Posted by Mason66 View Post
    For you guys that live in the US, how many of your cards have the chip as opposed to only the strip on the back?

    Here in Mexico we switched to all cards having the chip 2 years ago.
    Well I've never had one with a chip to my knowledge anyway. The damn strip gets worn in my wallet and quits working and they have to send me a new one. So Mexico has a secure card and we don't? I've noticed we are increasingly lagging behind the world in areas, except the military we still got that going on.

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    Re: Hope you didn't go to Target on Black Friday

    Quote Originally Posted by Mason66 View Post
    For you guys that live in the US, how many of your cards have the chip as opposed to only the strip on the back?

    Here in Mexico we switched to all cards having the chip 2 years ago.

    Right now it is limited with cards we have.....only private business has used them, that I know of.

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    Re: Hope you didn't go to Target on Black Friday

    I heard yesterday that the card numbers have already shown up on the black market for sale. Today I read where Chase is limiting the amount on their debit cards. A real hassle for folks trying to finish their Christmas shopping. I didn't do any Christmas shopping at Target this year so I guess that's just one more thing to be thankful for. There just doesn't seem to be any shortage of evil in this world

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    Re: Hope you didn't go to Target on Black Friday

    Quote Originally Posted by vesper View Post
    I heard yesterday that the card numbers have already shown up on the black market for sale. Today I read where Chase is limiting the amount on their debit cards. A real hassle for folks trying to finish their Christmas shopping. I didn't do any Christmas shopping at Target this year so I guess that's just one more thing to be thankful for. There just doesn't seem to be any shortage of evil in this world
    Mornin' Vesper.....Yes and they are making duplicates too. Chase said the same thing here. Moreover this morning they were talking about how it is going to keep happening.

    Now while they say people can't be held accountable for the fraud......they did mention how costs will go up over these hackers and passed along to the consumer eventually.

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