#CyberFLASH: Canadian debit card fraud hits record low as criminals go ‘where it’s easier to do the job’

NYBZ120-15_2013_124926_highHad your debit card skimmed lately? Chances are the problem didn’t happen in Canada where technological updates and beefed-up online security have made it harder than ever for cyber thieves to operate in the Great White North. 

That’s the big take-away from a new report from Interac Association, the company behind much of the world’s debit-card operations.

The report, released this week, found debit-card fraud losses overall reached a record low in 2014 of $16.2 million in 2014.

That’s down 45 per cent from a year earlier when total losses due to fraud cost financial institutions a total of $29.5 million, according to the report.

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