Roll-out of microchipped credit cards 'is a blow against conmen'

It is becoming more important to ensure you keep your credit card pin number safe, one industry expert has said.

The implementation of mirochipped credit cards has been a blow against counterfeiters.

This is according to Lesley Parker, writing for the Age, who noted that this also means it has become even more vital for those with this type of Aussie credit to ensure their pin numbers remain safe.

And this is because the pin-based transactions are covered by the organisations' electric funds transfer code, which can mean the bank account holder is liable.

Moreover, this can be compared to those with a traditional credit card, whereby the bank would be liable if a transaction is completed by a fake signature.

She added that people "may be liable if they disclose their PIN to someone - even a family member or friend, for instance. Or they could be found to have recorded the PIN in an unsafe way".

These comments come after a fraudster who netted $114,000 from a con walked free from the Maryborough District Court earlier this week, the Fraser Coast Chronicle reported.

By Nate Sawyer