Researchers at Newcastle University found that criminals can hack your Visa card in less than 10 seconds. All they have is your card number and what they’re missing is the three digit security code and the expiry date.

With just a laptop and a simple computer program, they run all the possible combinations of your security code and the expiry. In just a few seconds they have all the information they need to start shopping online.

It only works with Visa who doesn’t have a blocking system when multiple tries are made with your card. MasterCard and Amex block the criminal after just a few incorrect attempts. Now don’t panic. You’re never liable if your card is misused – ever! But wouldn’t you think Visa would care about absorbing millions of dollars in fraudulent charges?

If you’re turning 60 or 65 this year, write a note on your calendar: You’ll be able to get much of your banking service charges stopped! Credit unions are at age 60, but you’ll have to check with your specific bank if they’re at 60 or 65. I do know the Royal is now age 65 as they just changed it. Ah, how to legally rip off tens of thousands of seniors for millions of dollars…it’s detailed in the Money Tools book in the banking chapter.