Wednesday, April 2, 2008

Vermont ski area reports Hannaford-like theft of payment card data

these reports just don't seem to stop -

Vermont ski area reports Hannaford-like theft of payment card data

'what can I do about it?' well, if you're the business owner I've got a lot of answers for you - email me! :)

But as the consumer wanting to continue using credit cards, you will continue to be at risk.

One of the ideas I've floated out there with a few tech friends is we need credit cards with an authorization code that'll expire every 60 seconds or so. Some banks offer this functionality to their customers to be used in addition to a password. It would work just the same with a credit card - you give the card to the restaurant, ski resort etc; AND you give them a 'one time password' - an authorization number that'll expire in 60 seconds.

Even this wouldn't stop the real time theft that's described in the story, but it'd severely curtail the time a fraudster could use the card!

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