Be Safe, Smart and Secure: Simple Ways to Protect Your Identity and Your Money

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1 Be Safe, Smart and Secure: Simple Ways to Protect Your Identity and Your Money

2 Cards protect you and your money Electronic payment cards are one of the safest and most secure ways to purchase goods and services. Major electronic payment networks, like MasterCard, are focused on protecting your money and identity. 2

3 Master Your Card is a public education program designed to help you get the most value from electronic payments. Master Your Card MasterCard is an independent technology company that develops innovative electronic payment solutions to take the time, risk, expense and inconvenience out of people doing business together. Consumers have the money. Banks issue credit and hold funds. Businesses have goods and services. MasterCard provides the technology that links them together instantaneously with safe, simple and smart electronic payment solutions. 3

4 Fraud prevention 4

5 The face of fraud As technology advances and becomes more secure, attempts at identity theft have taken new forms. Phishing Telemarketing Dumpster Diving Hacking Theft Skimming 5

6 Fraud prevention technology Features built into your card MasterPass EMV / Chip PCI DSS / Site data protection PayPass wallet 6

7 Current MasterCard Security 7

8 PayPass PayPass allows you to speed through check-out with a simple tap rather than a swipe. Adds an embedded radio frequency chip and antenna to cards or new contactless payment devices. Cards and devices never leave the consumer s hands, providing added security. 8

9 MasterPass Wallet MasterPass Wallet makes it simple to purchase and pay with the security you demand. Register any and all payment cards. Click on Pay with MasterPass. Sign in to authorize purchase. Add more protection and get a purchase PIN via text message. Will support in-person purchases too. 9

10 MasterPass Wallet MasterPass CONNECTED WALLETS MERCHANTS ACCEPTING MasterPass Checkout with PayPass Tap & Go Checkout with PayPass Online Partner Wallet 10

11 EMV Chip Cards: The Future contact EMV is a global standard for credit and debit payment cards based on chip card technology. Payment cards that have chips are more powerful because they contain tiny computers that make transactions safer. They reduce the incidence of fraud by making cards more difficult to counterfeit. contactless mobile 11

12 Protect yourself 12

13 Be very cautious about s and questionable websites asking for disclosure of sensitive financial information. Online protection General computer protections, firewalls and software can help guard against viruses. Turn off computers when not in use to reduce risks of hacking and intrusion. Don t click on links in suspicious s. Change passwords and PINs periodically. Make sure websites for online purchases have a security icon displayed in the corner a closed lock or unbroken key. 13

14 Banks write letters Your financial institution will never contact you to request your personal and account information via text, phone call or . This is an approach fraudsters and criminals are exploiting. 14

15 Protect yourself Call your bank directly, using the phone number on the back of your card, if someone phones or s saying they need personal or account information. Do Verify payment and information requests and get them in writing. Banks and card companies won't make such requests by or over the phone. Keep an eye on your card during transactions and get it back as quickly as possible. Notify card companies in advance of a change in address or travel abroad. Source: Federal Trade Commission; IC3.gov 15

16 Protect yourself Sign your cards as soon as they arrive. Keep a record of your account numbers, expiration dates, and the contact information of each card company in a secure place. Do Report any questionable charges promptly and in writing to the card issuer. Save receipts to compare with billing statements. Carry your cards separately from your wallet in a zippered compartment, a business card holder or another small pouch. Source: Federal Trade Commission; IC3.gov 16

17 Protect yourself Respond to s or phone calls that solicit your personal or payment card information. Don t Volunteer details or fill in the blanks (name, relationship, financial or personal information) if someone calls asking for help from family or friends. Sign a blank receipt. When you sign a receipt, draw a line through any blank spaces above the total. Lend your cards to anyone or leave cards or receipts lying around. Source: Federal Trade Commission; IC3.gov 17

18 Protect yourself Make purchases on websites that don t look reputable. If you re unsure, you can check a site s validity at Don t Write your account number on a check, postcard or the outside of an envelope. Throw away ATM and card purchase receipts in a public place. Use cards as a form of ID. Source: Federal Trade Commission; IC3.gov 18

19 Additional resources Financial Fraud Enforcement Task Force National Crime Prevention Council 19

20 Thank you 20

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