Can You Safely Use Your Credit Card?
Shoppers charging their purchases by credit card at Target and Neiman Marcus recently may have learned the hard way that their personal information contained on their credit cards is no longer safe. Target so far has reported 40 million payment card records were stolen along with 70 million other customer data taken. In response to these breaches as well as others, Visa and MasterCard will adopt “EMV” chip technology. EMV cards which already are used in Europe and Asia, store information on computer chips rather than on traditional magnetic strips which make them harder to counterfeit. They also can require the user use a personal identification number (PIN) which adds extra security. However, the National Retail Federation, the world’s largest retail trade association, says retailers have made no plans to immediately implement the PIN option, making for only a “half-baked solution.” The Law Offices of Steven S. Farbman urge consumers to contact their representatives and urge them to pass laws mandating that retailers add the PIN function to the EMV card to curb the continued threat of identity theft.
The Law Offices of Steven S. Farbman are always interested in the safety for the people of our community. We welcome your thoughts on this controversial subject. As always please feel free to contact my office with any legal questions you may have.