Credit Card Firm Security Breach Puts Canadians at Risk

A warning is given by Better Business Bureau that Canadian consumers might be affected by a security breach in United States.

According to Global Payments, a payment card processing company located in United States, its system has been hacked last Friday. As a result, both Visa and MasterCard are examining operations from the month of January to February.

Avivah Litan, a security analyst, said that the hackers could have possibly taken roughly ten million or more worth of cards.

According to Mark Fernandes, spokesperson of Better Business Bureau, B.C. consumers, especially those who shopped in the United States just this year, must check their financial statements during the last two months for any doubtful changes. If there is something you cannot recall doing, then it is highly possible that it is a false transaction.

Moreover, Fernandes said that it is still likely that the Canadians are in danger despite the fact that Global Payments is located in United States. This is because these types of firms are multinational and handle millions of payment transactions.

According to Andrea Woroch from Verizon Business, people must get in touch with their card issuers as soon as possible if they see something doubtful on their statements.

Based on an interview from the previous year, Woroch said that consumers often neglect little charges on their bills. Unfortunately, this is how others repeatedly take advantage of them.

Credit card scams are approximately just as profitable as the drug trade, warns the Canadian Anti-Fraud Centre. To avoid these scams, only give your card numbers through phone or Internet to trusted firms and always watch over your pin. Also, be cautious of emails that require account information.

Additionally, experts warn that the hacking of the Global Payments’ system could followed by another scam. Fernandes said that any emails allegedly from Global Payments concerning the breach might be a phishing attempt. On Monday, it is anticipated that Global Payments will give more information on the level and extent of the security breach.

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