Chip technology in debit cards have significantly cut down on fraud according to Interac Association. Debit losses due to skimming have reached a record low of $11.4 million; $1.5 million of that in Canada.
Despite record low numbers, more Canadians are concerned about fraudulent activities involving their debit cards than in 2015 according to an Interac survey. The Interac Association/Acxsys Corporation survey found 75 per cent of debit card holders said they were worried about possible skimming, 26 per cent higher than 2015.
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