Frequently, you hear in the news about hackers accessing online computer records and stealing credit card information. The credit union receives updates from VISA regarding credit card theft that occurs via the internet.
The problem with the information we receive from VISA, is that it is unclear what the level of risk may be to our members when card information has been stolen. VISA does not speculate whether any cardholders will be affected. Often the hackers have accessed thousand of VISA card numbers from all over the world.
Fortunately, as of this date, we have not experienced a fraudulent transaction as a result of stolen credit card numbers.
Given the ongoing theft of credit card data online, we want you to be fully informed on the protections we offer in the event that you are a victim of a fraudulent transaction on your VISA credit or check card.
Zero Liability Using your VISA credit or check card online, in a store, or anywhere, you are protected from unauthorized use of your card or account information. With VISA’s zero liability policy, your liability for these transactions is $0. You pay nothing.
If you have an unauthorized transaction on your VISA credit or check card, please use our VISA dispute form.
3-Digit Code Another way that VISA is reducing fraudulent online transactions is through the use of a 3-Digit code. The 3-digit code located on the back of your card, when used in an online transaction, ensures that only the person who physically has the card can buy online with the card.
Red Flags VISA also monitors transactions by verifying the following information when a card is used online:
Shipping address that has changed, or is different than billing address on record
Unusually large purchase compared to normal purchasing patterns
Name that does not match the cardholder name
What you can do The majority of fraudulent transactions are self-detected. You can be your own fraud monitor by paying close attention to your account transactions by reviewing your account regularly. We suggest that you sign up for our online account service, versus waiting until you receive your monthly statement. If you notice a fraudulent transaction on your account, please use our fraud dispute form to notify the credit union right away.