Scam du jour: Chip card scams

October 19, 2015

October 19, 2015
by Colleen Tressler
Consumer Education Specialist, FTC

Recently, I told you about the new credit and debt chip cards designed to reduce fraud, including counterfeiting.

Now, I'm reporting on scammers who are trying to take advantage of the millions of consumers who haven't yet received a chip card.

Did You Know Acquisition-related Thresholds are Changing?

September 30, 2015

GSA, along with DoD and NASA, issued a final rule effective October 1, 2015, to implement the inflation adjustments for acquisition-related dollar thresholds. Section 807 of the Ronald W. Reagan National Defense Authorization Act for Fiscal Year 2005 (Pub. L. 1 08-375) requires an adjustment every five years of acquisition-related thresholds for inflation using the Consumer Price Index.

EMV in the U.S.: Putting It into Perspective for Merchants and Financial Institutions

July 30, 2015

For almost two decades, interest in EMV1 barely reached a simmer in the United States. Recently several card associations stirred the pot and now interest in the smart chip standard is heating up among almost every player in the electronic payments value chain. Financial institutions, merchants, acquirers/processors, card brands, and hardware and software vendors all want to understand the current state of EMV in the U.S. Is it finally time to take a seat at the implementation table, a table at which much of the world has been sitting for several years?

FINAL RULE: FAC 2005-83/FAR Case 2014-022 Increase in the Micro-purchase Threshold

July 13, 2015

Attached is a copy of the final rule (FAC 2005–83/FAR Case 2014–022) published in the Federal Register on July 2, 2105.  This final rule, among other things, raises the micro-purchase threshold to $3,500 effective October 1, 2015. Please consider whether or not your agency will be adjusting purchase cardholder transaction limits, based on business needs, once this increase becomes effective. 

FAC 2005–83/FAR Case 2014–022