Your credit card can be compromised by weak security

August 4, 8:27 PMCharlotte Identity Theft ExaminerPierre Rattini

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What happens when your credit card gets swiped at the many places we use it? All the information coded into the magnetic strip, including your card information and name get sent electronically through various networks (we hope they are all secure) until they reach the bank or credit union that gave you the card. According to a recent MSN article, this electronic transmission of information can be vulnerable to identity thieves and computer hackers. This can allow them to access your private information. In a previous article $23 Quadrillion credit card bill, ouch it shares more details on how secure our information may or may not be.

Our information is not as secure as we may think. Would you agree?

The MSN article cites a statistic from the Privacy Rights Clearinghouse: there have been over 70 retailers and payment processors since 2006 who have disclosed breaches that involved 10’s of millions of credit card and debit card numbers. The unfortunate part of the story is that there were breaches that were detected; many other retailers could’ve experienced breaches that went undetected and what about the breaches that were not declared or hidden.

Identity theft is not a matter of if but when it will happen to each of us. There is no product service or method available to prevent identity theft from happening to each of us.  We recommend you find the best solution to help you restore your identity using experts.

For more information: Contact Pierre Rattini at pierre@riskmanagementalliance.net