The End Of Credit Card Fraud?
On iAfrica.com, Bruce Whitfield interviews Visa's Nick Essame about new technologies to protect against credit card fraud. "These credit cards Nick, lets face it, as they are, at the moment are hugely vulnerable to fraud."
Yes, you are absolutely right. The magnetic stripe technology on the back, the black strip is a good 20 to 25 years old. I think every fraudster in creation knows what’s on and how to skim it. You can pick up skims on the internet for about $5 or $6. I mean, it’s well past time, I think that the technology moved on and started to protect the cardholders.
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