Don’t become a victim of this new phishing scam called the VISA & MasterCard Telephone Credit Card Scam. The fraudulent caller says they are from the Security and Fraud Department at Visa. They lead you to believe they have all of your information except the security code on the back of your credit card.

Data security breaches are a serious problem for both consumers and businesses. Financial institutions, such as Family Trust, bear the additional burden of re-establishing member cards and safety after a data breach occurs. Most consumers do not realize the scope of these breaches and would be surprised by costs associated with rectifying them.

A recent settlement in a class-action suit gives merchants the ability to charge customers a fee to process credit cards during purchases, although several major retailers say they do not plan to add the surcharge.