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Still, it is possible for a thief to make unauthorized purchases on a card before the card is canceled.Without other security measures, a thief could potentially purchase thousands of dollars in merchandise or services before the cardholder or the card issuer realizes that the card has been compromised.Bank has partnered with SHAZAM to help protect you from unauthorized use of your Debit Card. Falcon™ Fraud Manager helps identify and reduce fraud risk by detecting potentially fraudulent Debit Card transactions. For more information, please visit the Shazam website.This is a great program for consumers and retailers alike.For more information, visit the Mastercard Securecode website.When a credit card is lost or stolen, it may be used for illegal purchases until the holder notifies the issuing bank and the bank puts a block on the account.
Cardholders can mitigate this fraud risk by checking their account frequently to ensure constant awareness in case there are any suspicious, unknown transactions or activities.The compromise can occur by many common routes and can usually be conducted without tipping off the cardholder, the merchant, or the issuer at least until the account is ultimately used for fraud.