Visa applauds Government of Canada measures to combat identity theft
Federal government action an important step in fight against fraud
TORONTO, March 31 /CNW/ - Visa Canada today announced its support for the government's new legislation, which will provide greater protection for all Canadians as it makes identity theft a defined offense under the Canadian Criminal Code.
"As a leader in secure payment technology, Visa takes security and the protection of personal information seriously. (Editor's Let's B. Frank Note: And that's why they push the less secure signature debit over the more secure PIN Debit...because they take the protection of personal information seriously? And to think that all this time I thought the profit they make from signature debits inherently higher fees was what they took seriously. I'm glad they clarified! But...wait...what's that headline in the related article below? Speed and Convenience? Now I'm confused. Which is it? Speed and Convenience...or Security?
We are pleased the government has introduced this important piece of legislation. It sends a clear signal globally that Canada takes identity theft seriously and is taking steps to deter criminal activity," said Tim Wilson, Head of Visa Canada.
Visa works closely with government and law enforcement to protect Canadian cardholders and business from financial fraud and identity theft. For Visa, fraud prevention efforts focus on the use and development of innovative technologies and programs that protect cardholders from unauthorized card use.
In Canada, Visa's layers of security include the Visa Zero Liability policy, which protects cardholders from fraudulent use of their Visa card; the Verified by Visa program, which provides added protection to consumers when they shop online; and the neural networks that monitor Visa card transactions 24/7 and identifies unusual purchase patterns. Visa Canada issuing financial institutions have also recently introduced chip and PIN Visa cards that provide additional protection against counterfeit and lost and stolen credit and debit card fraud.
About Visa
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.
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