What Is Pinless Debit Fraud?

What is Pinless Debit Fraud?


In today’s age of cashless purchasing and online shopping, pinless debit fraud has become more common than ever. Pinless debit fraud refers to the unauthorized use of a debit card for payment when a pin is not entered as a security measure. Most establishments do not verify I.D. or signature when a purchase without a pin is made, leaving the door wide open for pinless debit fraud. Fortunately, there are things you can do to protect yourself.

Regularly Monitor Your Accounts

When trying to decrease the risk of pinless debit fraud, it’s essential to monitor your checking account for any unauthorized purchases periodically. Most banks even have features to alert you when a purchase has been made automatically.

The sooner you report fraud to your banking institution, the better. You can set up your account to have an alert sent to your phone anytime a transaction greater than $.01 has been made so that you will immediately know if you’ve been compromised. 

Don’t Click Links in Banking Emails

Phishing is a fraudulent attempt made by a cybercriminal to obtain user information while posing as a trusted source. Typically, these attempts are designed to result in financial exploitation or espionage. While phishing can take form in a variety of mediums, it most commonly occurs through email. Any time you’ve received an email boasting that you can receive prize money by clicking on a link, you’ve likely been witnessing a phishing attempt.

Today’s phishing scams have grown in sophistication, with cyber hackers often posing as financial institutions. Once users click the “banking” email link, they arrive at a fraudulent site where their imputed information is stolen. If you need to access your online banking account for any reason, it’s best to manually input the web address into your browser rather than clicking any supposed “links.”

Use A Strong Password for Online Banking

This last tip may seem obvious, but having a strong password is one of the easiest defenses for protecting yourself against pinless debit fraud. Make sure passwords are not too simple and contain enough special characters- while avoiding any personally identifiable information (a birthday or postal address for example).

Qkey Can Help!

It’s possible to feel confident in the security of your passwords and payment information when you use Qkey. Our password manager not only eliminates the need to create and remember complex passwords, but the keys used to encrypt user data are secure and never accessible by Qkey.

We put you back in control, allowing you to experience total security every time you access your online accounts or complete an online transaction. Our “SMART Login” transforms your online security experience to a natural, familiar and secure, Tap & Go. Contact us to learn more about how Qkey can help you regain control over your security through the power of encryption!