Prepaid Cards May Get Added Fraud Protections

Swipe a debit or credit card and all sorts of consumer protections are in place in case something goes awry. With a prepaid card, not so much. That may soon end. The Consumer Financial Protection Bureau is proposing to extend many of the consumer rights that exist for credit and debit cards to prepaid products, such as limiting customers’ losses if their prepaid cards are lost or stolen. >> 10 Consumer Spending Regrets “People use prepaid accounts as a convenient way …

10 Dumbest Things to Do Online

Trying to get scammed? Engage in these stupid but common online practices and the smart money is that you likely will. 1. Falling for emotional bait. Online and otherwise, scammers line their pockets on your emotions — greed, fear, curiosity — and often fuel each with “Act Now!” urgency. Offers of easy money and threats of negative consequences phish for your money and/or personal information. Promises of forbidden photos or links, especially with terse “Check this out!” messages, are used to install …

Frank Abagnale: Hackers Can Get Your Info in 15 Seconds

Frank Abagnale, former master check forger, has some sobering advice for the rest of us: Hackers likely already have your identity records. He says hackers can steal your identity in 15 seconds or less. Abagnale, who lectures on forgery, embezzlement and secure documents, spoke to attendees today at the AARP Ideas@50+ conference underway in San Diego. Among his other revelations: Children make better victims than adults because thieves can use their stolen identity for a longer time. The privacy button on …

6 Places Never to Use a Debit Card

Credit or debit? Although both cards look the same, they offer different protections. Under federal law, if your credit card is used to make unauthorized charges after it is lost or stolen, you’re liable for only $50 - no matter the amount and with no time restrictions to report the fraud. And many issuers won’t even charge the $50 for valued customers. But with a debit card, you have just two business days to report an unauthorized loss or money transfer, or …

How Target-Like Breaches Occur (P.S. More Are Expected)

Maybe you are among the 110 million Target shoppers whose payment card or personal information was hacked during the recent holiday shopping season. Perhaps you are one of the 1 million-plus Neiman Marcus customers whose data was exposed in a 2013 breach just recently announced. Been to Michael’s lately? The arts and crafts retailer is the latest well-known company whose customer payment details were reportedly stolen in the same type of data breach. How are con artists doing it - and which …

Cyber Scam Predictions for 2014

As the year closes, leading online security vendors are looking into their crystal balls – or rather, reviewing recent trends of trickery – to predict the top cyber scams of 2014. Some notables worth a mention: TVs watching you. Many traditionally “dumb” devices are getting “smarter” – televisions, gaming systems and even baby monitors are being connected to the Internet and often contain cameras or microphones. So, many cybercops predict them to be a magnet for attack, such as remote spying. …