“Multiple banks say they are seeing evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards that went on sale this morning in the cybercrime underground…”
This seems to be a continuing pattern. You would think that after the Target breach that all big businesses would be making massive efforts to tighten up security–but apparently not.
Screw it. I’m going back to cash, and to Lowes. If some company is too dumb to learn from the Target debacle they don’t deserve my business.
Big whoop for credit card users. Since the perps do not actually possess the card, the legitimate card holder incurs zero liability and 100 percent protection. The issuing bank will send them a new card.
Not so for debit card owners. Debit cards are not protected like credit cards. Debit card users should religiously check the account tied to the card because there are deadlines for reporting misuse, and escalating liability and actual loss of money in the tied account.
They got me through my debit card. We checked our account the second we saw the news. Yep, four charges halfway across the country, one for $156 for gas. We instantly called the bank and canceled my card.
When are we going to go to chipped cards?
Maybe, sometime in 2015. But not across the board.
This Wall Street Journal online article says that chip cards are on their way, but they make no mention of Wells Fargo getting on board.
I sent an email to WF customer service urging them to get with the times and not follow behind their competitors in this field. For all the good it will do.