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Saving Money & Making Extra Money

A friendly place to discuss tips on saving money, making money at home, and getting out of debt.

Monday, June 20, 2005

40 million credit cards stolen!

I don't get much work done on my site or blog on weekends. I prefer to spend time with my little girl instead of sitting in front of my computer screen.

But there was a major story that broke over the weekend that I wanted to mention. Hackers managed to rip off the credit card numbers of about 40 million consumers by breaking into a third-party computer system that stored the information.

They can use the account informtaion to make purchases or commit identity theft. It's a good idea to call the financial institution that issued your credit card to find out if you may be at risk.

At the very least, keep an extra vigilant eye on your monthly statements. Even better, sign up for online access so you can view your account information at any time. This will help you find unauthorized purchases even more quickly.

What do you do if your account has been hijacked?? Call the bank immediately to inform them of the fraud and have the card canceled. Federal law limits the amount that you can be held liable to only $50. However, many financial institutions will not charge you anything at all.

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