Interac boasts lower debit fraud figures
Posted Mar 27, 2014 1:00 pm.
This article is more than 5 years old.
Losses because of debit skimming are down.
That’s according to Interac, releasing new numbers Thursday that show fraud exploitation is down 62% year-over-year in Canada.
Total losses were around $29 million last year, but only $7 million of that was because of fraud exploitation.
Caroline Hubberstey with Interac said they’re excited about the numbers.
“It’s really great news for people who love Interac debit and use us with great confidence, we have over 4.5 billion transactions annually,” she said.
“This has always been a secure system, but we’re making it more secure with things like chip technology.”
March is National Fraud Prevention Month.
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