MasterCard and Visa are busy notifying customers that their financial security could be up for grabs. A company named Global Payments Inc., that processes credit card transactions, has found a breach in their system that could lead to identity theft and bogus charges.
"What happened here is somebody has tapped into the payment stream system," said identity theft expert Jay Foley, "and that's a concern."
Foley says card companies will have to reissue credit cards and encourage customers to check their bills for fraudulent charges.
"Everybody needs to be on their guard," said Foley.
Stephanie Thomas was a victim of financial crime when her debit card was stolen and used by a hacker, "I felt totally violated," said Thomas.
Now Stephanie and her husband look over every credit and debit card bill. "We sit down together and we literally check every single thing."
Jay Foley says if your cards are stolen you are only responsible for $50 in loss.
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