Is China Merchants Bank’s anti-theft and brushing service useful?

Yes, but it treats the symptoms rather than the root cause. The money stuck on the body has disappeared, and the operation can be completed without even touching it, which has caused many people to fall into the "theft panic", and thus a new hot-selling product has been born: safety card holder /wallet. The market price of this product ranges from a few yuan to tens of yuan. Although you don’t feel bad about spending it, if you think that you can sit back and relax and everything will be fine with a safe card holder/wallet, then you have to be vigilant and read the following text carefully.

1. You can choose to activate/deactivate the small amount password-free function now;

2. Open the Bank of Communications credit card and use it worry-free, covering all cards in the account, real-time reminder, 96 Hourly card loss protection and fraudulent claims are up to RMB 100,000.

Bank card fraud can be divided into two situations: online and offline. (Telephone fraud is purely an IQ tax. There are many people who have introduced this, so I won’t go into details in this article.) Online scams are mostly phishing websites, fake base station SMS, WiFi traps, etc.; offline scams are mainly about copying magnetic strips to steal money. Let’s talk online first. Phishing websites and fake base station text messages. Faced with these two deceptions, if you still have some intelligence, you really won’t be deceived.

Offline fraud, judging from the current situation, offline fraud is mainly concentrated on debit cards, which exists in the form of copying magnetic strips and recording passwords. Chip theft basically does not exist because the cost of copying chips is too high. And many banks have no risk control for debit cards (credit cards are refused transactions when swiped on high-risk machines)_ From this Zhihu topic, we can see that chip cards are difficult to copy. The question is, now that all debit cards have chips and magnetic strips, why are they still being stolen? Because the debit cards that are currently the main victims of fraud support downgrade transactions, this page is China UnionPay’s introduction to downgrade transactions.

Judging from China UnionPay’s introduction to downgrade transactions, it stands to reason that magnetic stripe card transactions are now not allowed and merchants have basically replaced POS machines that support chip cards. To be honest, I really don’t know the specific reasons. I don’t understand. It may be that the bank has made a setting in the ATM transaction to allow downgrade transactions. It may be that individuals basically swipe magnetic strips by hand. It is undeniable that fraudulent transactions mostly occur on debit cards and are copied. Completed by magnetic strip. Therefore, we first turn off magnetic stripe transactions through the settings of the card in hand to prevent all thefts from copying the magnetic stripe.