IMGCAP(1)]
Veritec Inc., a Golden Valley, Minn.-based security technology vendor, has released security technology that enables users to deactivate their debit cards by entering a code provided by Veritec into their mobile phones if the users suspect fraudulent account activity. Users of the service can reactivate their cards using another Veritec code once they are certain of their accounts are not in fraud danger. It is unclear how users receive the codes. Fresno, Calif.-based Security First Bank of Fresno has signed up to use the system, which is a part of Veritec's mobile-banking software. Cardholders also can choose to receive a variety of alerts on their mobile phones about card activity. Veritec did not respond to CardLine's request for comment. "People no longer have to completely rely on their card issuers to monitor possible fraudulent activity on their accounts," Jeff Hattara, Veritec president and CEO, says in a statement.
