According to some merchant services experts, the recent arrest of 100 people in connection to an identity theft ring in New York highlights the need for companies to add security to products.
In speaking to the press following the incident, Queens district attorney Richard A. Brown said that the major credit card providers should spend as much money on keeping data safe as they do on marketing, according to The New York Times.
More people would be using smart cards, which are thought to be more secure than traditional credit cards, if the necessary technology was implemented, explained John Hall, a spokesman for the American Bankers Association.
He said that more widespread adoption was necessary on the part of stores to make arrangements.
“The chip technology is certainly more secure but if you can’t use your chip card anywhere it doesn’t do anyone any good,” Hall said.
Many people were affected by the recent revelation of the sophisticated ID theft ring. The criminal operation was broken up after New York authorities began doing surveillance on suspects.Back To Blog