Breaches Exposed 1 in 7 US Debit Cards in 2013

[CommanderFrank]

Here’s a cheery factoid: In 2013, one in seven debit cards in the US were, at one time or another, exposed to a breach. The good news in all of this was a majority of the breaches can be attributed to the Target fiasco.

The Target breach will likely encourage a faster switch to so-called “EMV” cards, which contain a microchip rather than a magnetic strip, and require a PIN for authorization rather than a signature.

 

[SGA76]

Last year I had changed debit cards twice.
Both times I got calls from my bank saying there may have been a breach of security and asked if I wanted to cancel my card and order a new one, both times I said yes.
Now, you might say the bank was hacked twice you need a more secure bank, I say the second my bank thought there was a possibility of a problem my bank was proactive, notified me instead of hiding it, and gave me the option to prevent a huge freaking mess that could have potentially taken months to fix had they not been on top of things.

 

[{NG}Fidel]

Europe moved to those EMV cards a long time ago.
2001 they were starting to roll it out.
Why are Americans always so strange about upgrading?
I am asking this as an American, I am really starting to get baffled by it.

 

[Jagger100]

Europe moved to those EMV cards a long time ago.
2001 they were starting to roll it out.
Why are Americans always so strange about upgrading?
I am asking this as an American, I am really starting to get baffled by it.

The chips made it harder to duplicate the cards. Duping cards isn't where its at especially in what happened with target.

The use of a customer entered & electronically confirm PIN is really where any improvement lies. Signatures are harder to steal than a PIN but no one authenticates signatures. The use of signatures was a legacy where being defrauded by a brick & mortar merchant was the main concern. Signatures had way more legal weight in a court room.

 

[MasterOfNone]

Heh... My debit card info was stolen from Harbor Freight. For a few months I was paranoid about whether my info was stolen while banking on my phone or on my pc, but then they sent a letter saying my info was in a group of data that was stolen from their database.

Fuckers only got dinner and a cab ride in NYC, but Chase had already texted me right after the charges happened and they covered everything. Got a new card the next day.

 

[nutzo]

I would NEVER use a debit card on-line or even at a store, that is what credit cards are for. If my credit card gets compromised, all I need to do is dispute the charges, not fight to get my money back. Besides, I prefer the 1% to 5% I get back on the credit cards.

Only reason I even have a debit card, is in case I need to use an ATM while traveling.

 

[collegeboy69us]

I would NEVER use a debit card on-line or even at a store, that is what credit cards are for. If my credit card gets compromised, all I need to do is dispute the charges, not fight to get my money back. Besides, I prefer the 1% to 5% I get back on the credit cards.

Only reason I even have a debit card, is in case I need to use an ATM while traveling.

same here -- debit cards, like checks are a waste of time for me.

all my business is with chase - and there's no point to use a debit card, not when i can get 5% cash back on gas (currently) and other stuff throughout the year. The kicker: you have to be responsible enough to use a credit card. I treat the credit card just like cash, pay it off every 30 days no exception. That way I have way more protection, and 5% off gas/other crap.

It may be a little snooty of me, but when I see or hear someone talking about their debit card and it comes up that they don't have any credit cards. The first thing my mind jumps to is 'wow, you must have terrible credit and/or no self control financially"

 

[ChefJoe]

breach will likely encourage a faster switch to so-called “EMV” cards,

EMV cards would be great, except they're switching to chip and signature which is really a protection on duplication (because signature of a name that appears on the card is not security) rather than the 2-factor-ness of Chip and Pin.