How to Help a Cardholder in the Event of a Privacy or Data Breach
1. What is a privacy or data breach?
A privacy or data breach occurs when unauthorized individuals access a cardholder’s personal or financial information. This could include card numbers, account details, or other sensitive data being exposed or misused.
2. How can a cardholder know if they’ve been affected by a data breach?
If a cardholder’s data has been compromised, they may experience:
- Unexplained transactions or account changes.
- Unusual activity, such as unfamiliar login attempts or password reset notifications.
- Notifications from merchants or service providers that their data has been exposed.
If they suspect a breach, advise them to report it to you immediately.
3. What should a cardholder do if they suspect their data has been breached?
Guide your cardholders through the following steps if they believe their personal information has been compromised:
- Report the breach: Instruct the cardholder to contact your support team right away. Your team should then escalate this to us for immediate action.
- Change passwords: Encourage the cardholder to update their passwords for online accounts, especially their financial, email, and any other critical accounts.
- Monitor their account: Assist the cardholder in reviewing their recent transactions and account activity to identify any unauthorized use of their card or information.
4. How will Immersve help in the event of a breach?
Once a data breach is reported to us through your team, we will:
- Investigate the breach and secure any exposed cardholder data.
- Provide guidance on any specific steps needed to protect the cardholder’s account.
- If necessary, suspend or cancel their card to prevent further unauthorized use
5. Should the cardholder contact other institutions?
Yes, recommend that the cardholder notify their other financial institutions, especially their banks and credit card companies, to ensure no additional accounts have been compromised. They may also want to consider placing fraud alerts with credit bureaus.
6. Will the cardholder be liable for fraudulent transactions caused by a breach?
Assure the cardholder that, if they report the breach promptly, they will not be liable for any fraudulent charges. We will work with you to reverse any unauthorized transactions and ensure their accounts are secure.
7. How can a cardholder protect their data in the future?
Offer the following advice to your cardholders to reduce the risk of future data breaches:
- Use strong, unique passwords for each account, especially for financial and email accounts.
- Enable two-factor authentication (2FA) wherever possible to add an extra layer of security.
- Be cautious of phishing scams and avoid clicking on suspicious links or sharing personal information through untrusted sources.
8. Can a cardholder get a new card after a breach?
If the cardholder’s data has been compromised and they need a new card, assist them in requesting a replacement through your app or portal.