Reduce the risks for car fraud in the DR!!!!
 

All banks in the DR are adopting the long standing EMV (Europay MasterCard Visa) Chip card.

This new cards with the chips, will allow you to shop with confidence that your card will be hardly, if ever, cloned and your data will be secured in all transactions.

Clone\ing the chip is very difficult, because the encrypted data stored in its interior.When paying with a smart card in a store, it generates a cryptogram unique information stream which protects data traveling through the payment system to be validated on a central server and authentication of the transaction.

In addition to providing greater security, this technology saves time and avoids inconvenience to customers, because they will not have to enter their PIN to pay in shops. This PIN will only be required in cash withdrawals through ATMs.
Also, this new plastic incorporates added functionality over traditional cards, allowing its use in online purchases or home purchases and also offers the option of issuing additional cards with different limits to the principal.

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By 2013 new regulations from all major credit labels (Mastercard, Visa, American Express, Discover, JCB) will burden directly the banks which fail to provide all their debit/credit card holders for any fraud carried out on electronic transactions. No longer will be cardholders held liable for unauthorized charges.

At the same time, in store card transactions MUST be recorded by means of video or still photos of the clients during the transactions.

Kind of nice to know that someone will be photographing you every time you purchase something with a credit card.
Good business for the camera vendors as well.

That's to also cut the card holder's fraud as well! Some of the fraud that goes on with on-site credit sales which later are claimed as lost or stolen, happens to be carried out by card holders!

By keeping an image record of the person carrying out the transactions, they can cancel out card holder's fraud by 99%...

Same for inside work by employees or staff!

Nothing new, only that it will become mandatory in those cases! Or else the charge back will be permanent!

And still images means cameras that take snaps of the area during a transaction, instead of filming a video. It creates a record that's imprinted with the transaction carried out.
Not that a person will point and click at you!
It's also OLD technology!

So, when my card is stolen it can be used in a store without any problem, while no PIN is required anymore?

I my homecountry they are using these chips since some years, but you still need to introduce your PIN

... and the problems with using your credit card here has been the employees of the "CARD PROCESSING" company being the source of the credit card fraud.

Back to the photo.
If you are not photo'dmaking that purchase, you didn't make it.

The processing employee is taken out of the picture -- literally. !!

.. and that will stop the crook from still doing it?????

He WILL wear a disguise (Maybe).

After the fact, the thief does NOT care if the fraud is detected, HE IS LONG GONE!!!!!!!!!!!!

Can't be replicated with the chip loaded cards! The data is encrypted in a way that even copying the stream would be useless!

That's the case when people who claim not to have done the shopping themselves are recorded on camera doing it.

The employee or staff can only go as far as to fake having ID the card holder to prevent fraud, but the images will tell how it went down and as usual it's a repeated scam in action. Criminals are fools for the most part!

So you go shopping with a disguise? What are the odds that it will be more suspicious to the staff/salesperson than not?

Card fraud is more on the stolen data, unauthorized use, stole card stream than what many here are thinking about.

The more sophisticated the camera system, the better odds under the new regulations to come, for vendors to cut charge backs.

I don't think Dr. Santiago understood the original premise.... the liability issue and why this is being implemented.

Nice photos as always, PICHARDO.

However, I am still wondering what all this has to do with car fraud... http://www.dr1.com/forums/images/smilies/laugh.gif

Yes, I know:
Blah, blah.... Batata, batata. http://www.dr1.com/forums/images/smilies/silly.gif

donP

Thanks for noticing!

CARD! Missing "D" if a moderator could! Please!

Criminals are fools ???? I think not they outsmart people all the time what a naive comment !

They outsmart suckers... And the occasional oops!