Blog

ATECH MSP Blog

ATECH MSP has been serving the Bakersfield area since 2009, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Former Fraudster Says to Stop Using Debit Cards

Former Fraudster Says to Stop Using Debit Cards

When over 16 million people are scammed out of over $16 billion, there’s likely some type of problem that needs to be addressed. Famous con artist, Frank Abagnale, the man immortalized in Steven Spielberg’s Catch Me If You Can, a movie that was based off his own memoir, has been working as a security consultant with the Federal Bureau of Investigation for over 45 years. In that time, he has become an expert in cybersecurity and fraud prevention.

In those decades' worth of fraud detection, Abagnale has seen a lot, but he’s never seen anything quite like the debit card. “I don’t own a debit card. I’ve never owned one. I’ve never allowed my three sons to possess one. Certainly, and truly the worst financial tool ever given to the American consumer.” He goes on to talk about how the debit card spikes a person’s personal liability. 

Instead, he advocates the use of credit cards. The rationale is that transactions in which a consumer uses a debit card exposes the money in their account if credentials were to get stolen, while a credit card eliminates personal liability for stolen credentials. Additionally, by using credit in the same way that most people use debit, it allows people to build and maintain a healthy credit score, a must-have if you want to make any big-ticket purchases down the road. 

“When you steal credit card numbers...that has a very short, short shelf life. You have to get rid of it very, very quickly. But, if I steal your name, if I steal your social security number, and your date of birth, you can’t change your name, you can’t change your social security number, you can’t change your date of birth.”

Abagnale, goes on to talk about the future of cybersecurity and how new technologies are being developed that will change the face of authentication; and, leave passwords irrelevant. He also talks a bit about how the Internet of Things presents a lot of opportunities for hackers due to the technology companies not taking a vigilant look at the devices’ security before sending the tech to market. 

Watch the full talk here:

If you are looking for a way to secure your data, your business’ data, and keep your network and infrastructure secure, call the security experts at Atech MSP today at (888) 814-4843.

Contact Us For More Information

  • First Name *
  • Last Name *
  • Phone *
  • Comments:
        Tip of the Week: Signatures Are More Than Just You...
        Finding Value in Blockchain
         

        Comments

        No comments made yet. Be the first to submit a comment
        Guest
        Already Registered? Login Here
        Thursday, 21 November 2024

        Captcha Image

        Customer Login


        Latest Blog

        Atech MSP is proud to announce the launch of our new website at www.atechmsp.com. The goal of the new website is to make it easier for our existing clients to submit and manage support requests, and provide more information about our services for ...

        Contact Us

        Learn more about what Atech MSP can do for your business.

        Atech MSP
        3434 Truxtun Ave Suite 250
        Bakersfield, California 93301