Professor Basie Von Solms, Director of the Centre for Cyber Security at the University of Johannesburg, has advised consumers never to sign a credit card slip when they have used a PIN to authorise a transaction.
Speaking to RSG, Von Solms said point-of-sales staff often ask you to enter your PIN, and after the transaction is concluded you are asked to sign the printed receipt.
Von Solms said this should never be done. “The regulations clearly state that if you use a PIN, you do not need to sign,” he said.
He said criminals can use your signature to establish your name, which can be used in conjunction with your credit card number and expiry date to steal your money.
“When you purchase goods using a credit card over the phone, all you need is the name, credit card number, and expiry date,” said Von Solms.