What is CIBC doing to combat debit card fraud?
While INTERAC shared services are among the most secure in the world, debit card fraud can still occur. As a member of the INTERAC Association, CIBC is committed to helping protect our clients from debit card fraud. In October 2006 we began a phased installation of a new card reader on CIBC bank machines. This device, which is an illuminated green cover, will prevent anyone from obtaining information from our clients’ Convenience and/or VISA Cards through illegal devices or practices. The CIBC verification sticker found on the bank machine confirms the devices authenticity. While providing enhanced privacy protection, the new card reader does not affect the way our clients do their banking. As well, we continue to make a significant investment in security networks, and training experts who are constantly monitoring and investigating suspicious incidents as they relate to Convenience Card usage. In fact, in many cases, CIBC is able to deactivate Convenience Cards before they can be used
