Newspaper article Evening Gazette (Middlesbrough, England)

Pinpoint Key Legal Rulings

Newspaper article Evening Gazette (Middlesbrough, England)

Pinpoint Key Legal Rulings

Article excerpt

Byline: Helen Logan

Chip and pin, the system aiming to minimise the risk of fraud, has been in the headlines again ( but for all the wrong reasons.

A warning has been issued by the smallbusiness.co.uk newsletter, sponsored by Lloyds TSB Business.

It says the Forum of Private Business believes that small businesses need more time to adopt the new technology.

If your business accepts face-to-face credit or debit card transactions, you have just under two months to go before the January 1 date for implementation.

At present, banks pick up the cost for almost all fraudulent transactions taking place.

But from January, unless you have implemented chip and PIN, you - as the business owner who accepted a fraudulent card payment - will be liable for picking up the bill.

However, this is not all that clear cut.

According to the Chip and PIN programme, which has been spearheading a campaign to increase awareness and best practice, the rules around when exactly you will have to pay for fraud committed in your outlet are complex. …

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