BanderasNews
Puerto Vallarta Weather Report
Welcome to Puerto Vallarta's liveliest website!
Contact UsSearch
Why Vallarta?Vallarta WeddingsRestaurantsWeatherPhoto GalleriesToday's EventsMaps
 NEWS/HOME
 AROUND THE BAY
 AROUND THE REPUBLIC
 AMERICAS & BEYOND
 BUSINESS NEWS
 TECHNOLOGY NEWS
 WEIRD NEWS
 EDITORIALS
 ENTERTAINMENT
 VALLARTA LIVING
 PV REAL ESTATE
 TRAVEL / OUTDOORS
 HEALTH / BEAUTY
 SPORTS
 DAZED & CONFUSED
 PHOTOGRAPHY
 CLASSIFIEDS
 READERS CORNER
 BANDERAS NEWS TEAM
Sign up NOW!

Free Newsletter!

Puerto Vallarta News NetworkBusiness News 

New Rules Foster Credit Card Security
email this pageprint this pageemail usThe News
go to original
December 20, 2010



Central Bank establishes new, safer financial services
Mexico City – The new rules on credit cards established by the Central Bank of Mexico (Banxico) provide more protection in case of theft, cloning or loss, the National Commission on Protection of Users of Financial Services (Condusef) said Sunday.

The new rules, which are already in effect, also establish new formats that facilitate buying and canceling credit cards in a safe and quick way.

There are 14.8 million active credit cards in Mexico, which represent 68 percent of the total number of cards issued by financial and banking institutions. Only 18 percent out of the 16 million operations performed per month correspond to cash withdrawals from ATMs.

Only 31 percent of credit card users completely pay their debts, while 69 percent only pay a partial amount per month.

Credit cards report the largest number of questions and complaints at the Condusef and other specialized units of financial institutions.

Ángel Trinidad Saldívar, the Commissioner of the Federal Institute for Access to Public Information (IFAI), said that US$205 million is stolen every day through cloned credit cards in Mexico.

The easiest way for criminals to have access to this information is through online purchases.

Nearly US$75 billion is stolen worldwide annually through credit cards and personal information stolen through the Internet.

Security experts have said that people are running the risk of losing control over their personal data, as new technologies make the exchange of information a lot easier, Trinidad said.




In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving
the included information for research and educational purposes • m3 © 2009 BanderasNews ® all rights reserved • carpe aestus