Desjardins Group reacts to police Operation Fuel conducted in Montréal to counter debit card

Friday 22 April 2005 12:44 CET | News

Desjardins Group is pleased with the effective work of the City of Montréal Police Department, the Sûreté du Québec and the Royal Canadian Mounted Police, who carried out numerous searches and arrests this morning in Montréal to counter the activities of people involved in debit card fraud.

These searches were carried out following a complaint filed by Desjardins Group authorities subsequent to numerous debit card cloning frauds in the beginning of the year, impacting many Desjardins caisse members and clients of other financial institutions. The victims of these fraudulent acts have been reimbursed for their losses. Desjardins, like all financial institutions, takes these frauds against its members very seriously. Strong security measures are taken to reduce fraud, and any relevant information held by financial institutions is promptly transmitted to police to facilitate their investigations. Desjardins wishes to reiterate that using a debit card is still secure. As a reminder, here are a few security rules to abide by: - Never let your card out of your sight at a merchant. - Be careful when you enter your PIN on the keypad, and stay away from prying eyes. - Do not use a keypad that is attached to something, for example taped to a countertop. You need to be able to hold it in your hands, or if it is a fixed keypad, you must be able to get close enough to not be seen. Remember that Desjardins recently announced that it would take an extra step to increase the level of security of its cards by introducing a smart card for debit and credit by the year 2008. This new card will have an integrated electronic chip containing encrypted information that is practically impossible to falsify. Everyone in the industry is now turning to this new technology, which will ensure an even higher level of security for debit and credit card systems.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce