Tighter Security on Credit Cards

According to a Reuters story the President has signed  an executive order that requires all federal credit cards have a microchip and PIN.

(Reuters) – U.S. President Barack Obama signed an executive order on Friday to beef up security measures for federal credit cards, and urged banks and retailers to follow suit in an effort to combat the growing threat of identity fraud.

The order, which Obama signed before a lively, packed crowd of regulators at the Consumer Financial Protection Bureau, will add microchips and PIN numbers to government credit cards and debit cards starting in January.

credit-card-security-1

The full article is here

Some retailers are adding secure chip and PIN-compatible readers. These changes will help increase security and reduce credit card fraud. When your bank or credit card company begins offering microchipped cards make sure to sign up for them, let’s make it harder on the thieves out there.

-Dave

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