Saturday, December 4

Warning-if your debit and credit card contact details aren’t up to date, online payments could be declined due to new fraud checks


The changes are coming in under new fraud-prevention rules, known as’Strong Customer Authentication (SCA)’, which require both debit and credit card providers to ask customers to verify certain payments. As a result, you may get a text or phone call from your card firm when you make an online transaction, requiring you to confirm you are who you say you are-so don’t just ignore this or wrongly assume it’s a scam.

Card firms aren’t required to have the new checks in place until 14 March 2022-a deadline that was recently pushed back from 14 September 2021 due to the pandemic. But the Financial Conduct Authority (FCA) last week began encouraging firms to implement these measures and several card firms have told MoneySavingExpert.com they’re beginning to gradually roll out new verification processes this month.

The idea behind the move is to create a new layer of security to protect shoppers and their money. See 30+ Ways to Stop Scams for more on scams to look out for, how to protect yourself and what to do if you’re a victim .





www.moneysavingexpert.com