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Topic # 83281 13-May-2011 12:17
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This is about the BNZ credit card protection scheme where you use your BNZ credit card in a BNZ ATM and means this:

"A new protection mechanism for bank and credit cards has been patented worldwide by BNZ, the bank announced today. The technology is aimed at putting an end to “skimming” of cards, where the information on the magnetic stripes is captured by fraudsters without customers’ knowledge. "

...

“On standard bank and credit cards, the information stored on the magnetic strips is static and doesn’t change. With LEN, we’ve made that information dynamic so that it changes every time a customer visits a BNZ ATM – this means if criminals copy the data on the cards they won’t be able to use it for fraud.”

I received a letter from my bank saying they believed my card had been "compromised" and so have put a block on all overseas transactions (whether they are in person or over the internet) until I use it in an ATM or get a new card. The bank won't say what the "compromise" is (I rang them) but it is likely that a merchant that I have used in the past has themselves since been compromised (had stored card details stolen?). I have used my card three times overseas via the internet since I last travelled 8 months ago - all with big reputable companies.

The bank told me it's not just stuff on the card that changes but also information in their system. My question is: what information could these merchants possibly have (and leak) that could be fixed by using a BNZ ATM? They could have my card number, expiry date, name, security code and perhaps billing address, but none of that information would change. They may record authorisation numbers but surely that would be specific to the transaction.

Any ideas?

(Just curious)




 

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  Reply # 468738 13-May-2011 14:13
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That's the article I linked! However I read it as mainly being protection against skimming.

 

 




 

 
 
 
 


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  Reply # 468741 13-May-2011 14:14
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Ooops. I thought you linked to the BNZ web site. It looks like the LEN is only protecting against electronic skimming though, not manual copying of the card or leaed details...




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  Reply # 468742 13-May-2011 14:16
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Sounds like a great idea in theory.

One problem... thanks to having a card, I almost never use cash and by extension an ATM(BNZ or otherwise) to obtain cash. So my card remains static.

I guess I'll need to make a habit of checking my balance at the machine randomly. 

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  Reply # 468816 13-May-2011 15:51
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TinyTim: 

I received a letter from my bank saying they believed my card had been "compromised" and so have put a block on all overseas transactions (whether they are in person or over the internet) until I use it in an ATM or get a new card. The bank won't say what the "compromise" is (I rang them) but it is likely that a merchant that I have used in the past has themselves since been compromised (had stored card details stolen?). I have used my card three times overseas via the internet since I last travelled 8 months ago - all with big reputable companies.



Sony user?

Do you have a PS3? Have used this credit card # with the PlayStation network OR for with any Sony Online games?

If so get a new credit card number issued imo.

I use my credit card for all payments where possible I have had to get a new number 3 times in the last 5 years or so, most recently due to the Sony debacle, before that when Wilson parking got somehow compromised and before that when HellPizza's old flash website got compromised.

Stuff happens, most banks promptly give you a new number/card at no cost when this type of fraud occurs and are really onto detecting/cancelling and refunding any transactions you didn't authorise.



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  Reply # 468822 13-May-2011 16:05
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Ragnor:
TinyTim: 

I received a letter from my bank saying they believed my card had been "compromised" and so have put a block on all overseas transactions (whether they are in person or over the internet) until I use it in an ATM or get a new card. The bank won't say what the "compromise" is (I rang them) but it is likely that a merchant that I have used in the past has themselves since been compromised (had stored card details stolen?). I have used my card three times overseas via the internet since I last travelled 8 months ago - all with big reputable companies.



Sony user?

Do you have a PS3? Have used this credit card # with the PlayStation network OR for with any Sony Online games?

If so get a new credit card number issued imo.

I use my credit card for all payments where possible I have had to get a new number 3 times in the last 5 years or so, most recently due to the Sony debacle, before that when Wilson parking got somehow compromised and before that when HellPizza's old flash website got compromised.


Stuff happens, most banks give you a new number/card at no cost when this type of fraud occurs. 


 

No, I'm not a Sony user.

I'd assume that if your c/c number gets released into the wild then the bank will definitely want to replace it. BNZ didn't think it necessary to replace the card in this instance - I just need to use the ATM.




 

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