Reissuing debit cards after breaches may be too much

Reissuing debit cards after breaches may be too much
Tags: Bank / Credit Union, Debit / Credit, Other, Security
March 11, 2007

Digital Transactions: A recent survey conducted by Dove Consulting for Pulse EFT Association LP indicates that debit-card issuers may be overreacting to database breaches. Some 87 percent of the debit-card issuers that have had cards compromised in a breach have reissued cards. And just more than half of reissuing banks did so automatically. But according to Dove's survey, only 8 percent of cards issued by notified banks, on average, may have been compromised, and less than 5 percent actually have fraudulent activity.