Friday, 28 August 2015

U.S. stores are about to pay up for security

From Fortune –

“New rules are making cards more secure, but fraud may be a step ahead. Right now, if someone steals your credit card information, it’s a cinch for thieves to use it to make a counterfeit card. If that happens and they buy, say, a diamond necklace, your bank is on the hook to pay the damage. But not for long. Starting this fall, it will be individual stores (or jewelry dealers) and their insurers that will have to pay the bills for counterfeit credit card fraud. And many retailers are very, very unhappy about it.”

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