Much like we saw with the cheque fraud in "Catch Me If You Can," if there's an exemption or weakness in banking fraud defences, it can be exploited. Therefore, frequent travellers should be reminded to be vigilant when using magnetic strip cards at merchants and ATMS overseas. They should always keep their cards in view, watch for strange-looking equipment at ATMs, shield their PINs and only activate the magnetic strip if absolutely needed.
Dr. Rita Chakravarti is Senior Analytics Director at FICO.
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