Debit Card Fraud hitting the area - KOAM TV 7

Debit Card Fraud hitting the area


It's a crime that's been on the rise in recent years...and it's virtually impossible to detect, now debit card fraud is making rounds in the four state area...debit card fraud. But who's to blame for these common mistakes?

It's one of those items you typically don't leave home without. But what do you do when someone steals your information and money?

"It's a very convenient way for merchants, and for banks and for customers to use their money is on cards." says Jeannette Clem, Executive Vice President of Operations for Southwest Missouri Bank

Jonathan Crow was a debit card fraud victim who says "With mine, they actually keyed in the numbers. So I'm not sure how they were able to make the purchase without actually presenting the card on a debit account".

Reports of stolen debit card information have been popping up in the four state area, especially with Southwest Missouri Bank customers. Hackers have been breaking the codes of store security payment servers.. And it's almost impossible to detect. While thieves go on a shopping spree using your account, it's actually the banks that suffer.

"When these compromises happen at a financial institution, the financial institution is the one that takes the loss. So it's very important for customers to watch and monitor their accounts, watch their activity. If it's something they have not done, to notify us as soon as possible." Clem says.

Monitoring your accounts is the best way to prevent fraud.. Which Crow and his wife both know too well....hackers got into their accounts two different times.

"I found a charge that was unfamiliar and it ended up being from Hammond Indiana, and obviously we weren't out of town that weekend. So I filed a dispute claim, The following weekend my wife happened to have the same kind of occurrence, except they took quite a bit more money out of her account, the charges were all from Deluth Minnesota." he says.

Crow and his wife have been reimbursed as promised by the bank, but may never know the person responsible for those charges.

Southwest Missouri Bank assures its customers that they will not be penalized for any fraudulent activity that takes place on their cards. If you find any suspicious activity on any of your accounts - report it immediately to your local bank.

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