More and more, debit cards are becoming a popular form of payment for everyday purchases. With the increasing use of debit cards, scammers are also becoming more sophisticated in their fraud attempts, using the latest technology to target unsuspecting cardholders. What can you do to protect yourself, and what is your financial institution doing to protect you? Plenty.

Many financial institutions and payment networks have developed new measures that they are constantly improving to protect you and your money. Here are some of the latest safety methods being used to protect you against fraud.

1. Staying ahead of the latest fraud trends
   The Payment Card Industry (PCI) Data Security Standard is a multifaceted security standard developed to protect you as a consumer. It calls on merchants and companies that handle payments to incorporate certain security standards into their procedures and ensure that up-to-date safety measures are being used for your protection.
   
   The PCI DSS was created by the PCI Security Standards Council, which includes some of the top names in the payment industry: American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc. The Council continually updates these safety standards to combat fraud through the use of enhanced technology.



2. Identifying additional security measures
   While signature and PIN authorizations of debit transactions are effective, payments networks are also using sophisticated methods of identifying specific data embedded on your debit card’s magnetic stripe to enhance security when making purchases. Even if a card number and PIN are compromised, or a signature is forged, this added level of defense helps protect against fraudulent use.



3. Using technology to detect fraud
   Another advanced security feature is the growing use of “neural networks.” Neural networks monitor trends in spending habits and identify uncharacteristic activity on your card. Transactions are analyzed by location, the type of purchase and amount. If there is a major discrepancy between a particular transaction or series of transactions and your spending habits, subsequent purchase attempts may not be authorized until you have been contacted to verify their legitimacy.

1. Empowering you, the consumer
   Many financial institutions allow you to define certain parameters for the use of your card. These may include transaction amounts, specific purchases and/or locations in which your card, if used, will be tagged as compromised. Communicate with your financial institution about safety options on your card. You may even consider notifying them in advance if you plan to travel outside the country.

While there are safety measures in place for your protection, scammers are always figuring new ways to compromise the security of accounts. You can take control by staying informed and exercising your right to protect your money. Work with your bank or credit union to understand what liabilities and responsibilities you have as a debit cardholder. Visit the Myths vs. Facts page on this site to learn what you’re liable for should fraud occur on your account.