A Consumer Who Notifies the Issuer of an EFT Card

question 52

True/False

A consumer who notifies the issuer of an EFT card within two (2) days after learning of a loss or theft of the card can be held to a maximum liability of $500 for unauthorized use of the card; failure to notify within this time will increase the consumer's liability for losses to a maximum of $5,000.

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Definitions:

Trademark

A legal designation of exclusive use of a name, logo, or symbol to identify and protect a brand or product.

Fraudulent Affiliate

An affiliate that engages in deceptive practices to earn commissions from a partner program without adding real value.

User Data

Information collected from users through their interactions with a digital service or device, often used for personalization and improvement of services.

Fraudulent Ad

A fraudulent ad is an advertisement that deceives consumers through false claims, misleading information, or scams, often leading to financial loss or harm to the consumer.