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Saturday 9th August 2008
News that those behind the TK Maxx fraud, which saw over 40 million customer bank details put at risk, have been apprehended has given many retailers in the UK a shock and seen many run to check how safe their systems are! But is it still safe to use your credit card on the high street and over the telephone?
The truth is that no system is fool proof and every network will have it weak spots and areas of strength. While the TK Maxx fraud was something a little different to the norm it did blow open the idea that all computer systems are fraud and hacker proof. Thankfully any loses suffered by clients of TK Maxx were covered by the banks and the insurance companies but is this something we will be seeing more of?
The security of UK credit card and banking systems is as good in the world although there will always be sporadic instances of attempted frauds and similar attacks. It is how industries learn from ever changing attack strategies which will ultimately dictate the level of confidence in the UK system. At this moment in time you need to be cautious when using your credit card but there are no specific issues to worry about. |
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