Fair and Accurate Credit Transactions Act of 2003 (FACTA)

FACTA is a United States federal law passed by Congress on November 22, 2003. The preamble states it is “An act to amend the Fair Credit Reporting Act, to prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, make improvements in the use of, and consumer access to, credit information, and for other purposes.

“Sec. 113 Truncation of credit card and debit card account numbers” is the section of the act which is relevant to the use of card imprinters. This section states “… no person that accepts credit cards or debit cards for the transaction of business shall print more than the last 5 digits of the card number or the expiration date upon any receipt provided to the cardholder at the point of the sale or the transaction.” The section goes on to state

“This subsection shall apply only to receipts that are electronically printed, and shall not apply to transactions in which the sole means of recording a credit or debit card number is by handwriting or by an imprint or copy of the card.”

Even though credit card imprints are given an exemption under the law, properly truncated sales slips for use with an imprinter are available and should always be used to protect you and the cardholder.

While not regulated by this act, the Merchant bears responsibility for the secure storage and disposal of cardholder data on the Merchant copy of the imprinted sales slip or imprinted printer receipt. See PCI DSS compliance.

The complete Fair and Accurate Credit Transactions Act of 2003 can be found at http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=108_cong_public_laws&docid=f:publ159.108

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