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AnonTechie writes:
"MasterCard is partnering with mobile technology company Syniverse. The two will deliver a service to fight credit-card fraud by linking the user's card with the user's mobile phone. This will be an opt-in service and it is still in pilot-phase. Geolocation data will be key in making this work; the person will need to have both the phone and card. In order to complete any card transaction the user will need to have that mobile device switched on to a specific geolocation while abroad. A credit card user's point-of-sale details will be correlated with the geolocation of the mobile device. The true location will be identified, reducing the likelihood that criminals are able to buy goods with stolen cards."
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MasterCard, Syniverse to Use Geolocation for Cards
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
* m2 stares at the monitor... it looks like a hamburger...
m2 - that's a bad sign
(Score: 3, Informative) by mojo chan on Sunday March 02 2014, @11:57AM
If you are robbed the onus is on you to report the loss of the card to the bank as soon as possible, otherwise you become liable for the fraudulent transactions. This is only aimed at stopping cases where cards are skimmed, say by a modified ATM or payment terminal. In such cases the criminals either steal the card by pick-pocketing so you don't notice and immediately cancel it, or simply clone it with information taken from the skimmer.
const int one = 65536; (Silvermoon, Texture.cs)