Is It Possible That Your UK Business’ Credit Card or Plastic Security Card Might Be Vulnerable to Fraud?
Having a credit card or plastic security card seems as if it would offer a sense of security for employees, consumers, and stock. 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. In this commentary, we’ll study the simplicity of counterfeiters’ efforts to duplicate Visa and MasterCard. Given that Visa and MasterCard comprise roughly 65% of US credit card debt, they are the most often targeted cards for con artists. This gives the sobering impression that when you can defraud such large corporations, you can target anyone.
According the FBI report, most plastic credit card forgeries once depended on a one-step printing process that duplicated the logo and background onto a blank white plastic card. These days, cutting edge tech has allowed swindlers to include lamination and embossing of cards to their repertoire. In fact, counterfeiters are now capable of using counterfeit holograms and fully encoded false magnetic stripes in their products. Thanks to computers, printers, and blank cards, con artists now have the tools for even more convincing forgeries.
The answer may lie in a new plastic credit card embedded with a computer chip rather than the standard hologram. Known as smart cards, these cards have a chip which will store info in an extremely secure manner and must be verified by personal identification number (PIN).
If you are a UK business owner who uses a plastic security card, you have to stay on top of counterfeiters’ attempts to duplicate a plastic card.
For UK businesses considering implementing a plastic security card, there’s a lot to consider. Some well-placed research will go a long way toward finding the optimal solution for your company’s individual needs.
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