The computer chip works with your PIN to make sure you give permission for each transaction This helps protect you against fraud if someone steals your card. In Canada, all federally regulated financial institutions must decline any magnetic stripe transactions.Īll newly issued Canadian credit cards have a computer chip that makes transactions more secure. Prevent credit card fraud by protecting your credit card and your personal information. Asking you to use your credit card on an illegitimate website to make a "purchase".Phishing, that is, sending you an email that looks like it comes from a real business asking for credit card information.
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