I was reading an article and I found out about another security breach involving debit/credit cards at a credit card processing center. It seems like every week there is something new.
In this case, RBC notified 10,000 customers that they are at risk for credit fraud. The information of 10,000 customers was stolen when computer hackers hacked the credit card data processing company. The breach supposedly affects consumers in five states.
A bank spokeswoman has said that 40 customers have already reported suspected fraudulent withdrawals from their accounts. According to the spokeswoman, they wont be held responsible for these fraudulent transactions.
The stolen information included customers' debit card numbers, card expiration dates and PIN numbers. Consumers are advised to change their cards. The company said that it has a fraud detection system to monitor suspicious activity.
These ongoing security lapses reinforce the need for the pending legislation that would require banks and financial institutions to report any security breaches to its consumers. Consumers need to be aware of the extent and seriousness of the problem.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.