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Monday March 29, 03:03
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Theft Of Card Receipts Affirms Need For Security
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Over 180 credit card receipts were stolen from a Cricket Communications kiosk in the Boulevard Mall, Buffalo, New York State, by thieves who also took cash from a neighboring kiosk in the mall. The criminals broke in by cutting through tarpaulin coverings over both the retail booths and, as a precaution, Cricket plans to contact customers who made credit card purchases in the last week. Cricket guards against card fraud by truncating numbers on customers’ receipts, and is among the 50 to 60 per cent of US retailers that do not print entire card numbers on customers’ receipts.
Credit card receipts issued by Cricket do not bear customers’ names, and even if the retailer’s copies show the full credit card number, expiration dates are printed in code to prevent misuse. From July 1, 2006, Visa International is to mandate US retailers to truncate credit card numbers on customer receipts, but this rule will not extend to store copies, which retailers use as a backup. Most of the card receipts stolen from Cricket were for purchases made in February and March, and the retailer is working with its card processor to notify customers whose receipts were taken.
Thieves with card receipts are unable to do much damage, even if the full card number is present, says James Alessi, of HSBC Bank USA, as most online or catalog retailers will verify transactions by requesting the three-digit code on the back of a card. In Alessi’s view, “most crooks … are not going to do dumpster-diving” for card receipts, but may target a retailer’s database, as happened at BJ’s Wholesale Clubs. HSBC is monitoring cards affected by BJ’s breach, while another local bank, M&T Bank, is reissuing cards, even if fraud was reported on just a small percentage.
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