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Thread: school me on CC fraud
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10-30-2013, 03:25 PM #26
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10-30-2013, 11:29 PM #27I call bullshit
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If you don't normally shop at walmart, its an instant stop on the card it sounds like. I got nailed last year xmas time. Sorry, both myself and my wife, lol. So we are there, buying a TV for my daughter. Just a 23" flat screen, nothing too major. We had some other crap we bought. I run my card, declined. I'm like fuck.. My phone is out in the car so i just had my wife run her's, ill figure it out later. Declined. At that point, im like fuck, they just autoblock walmart. Now we are both stuck with blocked debit cards. At that point, i was pissed off at the bank. We had to go to a banking center to get them unblocked. They wouldn't do it over the phone now that both of our are blocked. I was even more pissed off then.
The moral of the story is you can get that block removed or add a certain amount. Banks are racial profiling Walmarts, thats all there is too it, lol.
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10-31-2013, 09:44 AM #28
No, they are profiling people who shop at Walmart, there is a difference.
I agree it is a constitutional right for Americans to be assholes...its just too bad that so many take the opportunity...iscariot
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10-31-2013, 12:01 PM #29
If you can get a credit card get one. Stop using debit cards. If the debit card number gets stolen you need to get your money back as opposed to a credit card where you stop the charges before you pay for them. You loose the use of your money while the problem is being fixed if you use a debit card. Also, merchants pay higher fees when you use debit cards.
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10-31-2013, 02:42 PM #30
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10-31-2013, 02:55 PM #31
Like most things, a skilled thief can steal it. I have a friend that does penetration tests for the government and some businesses. He said that the biggest saving grace we have is that in the US most hackers can make more or similar money legitimately than they can stealing shit. He's told me some wild stories without naming names and after the defect was fixed about failed tests to major companies.
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10-31-2013, 08:52 PM #32
If you know some of the different ways card numbers are obtained, the annual is WAY too long of a period and would not help much. You would need a 1 time use only card (and many banks offer a special one time use card number as a service for online shopping.) The reason annual will not stop fraud at all is because it only takes one time of using a card on a device like gas pump, ATM, vending machine, etc with a skimmer installed, then the number would be out there being traded online for many months. Likewise having your card leave your sight at a merchant or restaurant by a server and double swiping it- once through the restaurant point of sale equipment and a second time on say their cell phone with a scanner attached, or a number of other devices that their boss may know nothing about. 6 months or 6 days away from the card expiring can still give enough time to rack up a large number of fraudulent charges, unless the bank or credit card processor sees a pattern and flags the card like mentioned after the first 1 or 2 hits to the card.
Any type of breaches of databases by hackers on computers with the CC data, keystroke capturing viruses or trojans on a computer being used for any financial transaction, using a public wifi or compromised network without proper protection like an encrypted VPN, computers or data storage being stolen with financial data on it that is not properly encrypted are many of the ways cyber breaches and exposure happens.
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11-01-2013, 12:08 AM #33
When you think about it it's amazing our cc's aren't hacked more than they are. More honest people out there than the cynical amongst us would tend to believe.
Credit card companies don't forgive fraudulent charges out of the goodness of their hearts. It's the law. Americans are fortunate in that respect--American consumers that is, since the merchant is the one that gets screwed. In Europe if a chip and PIN card is used with the correct PIN the card holder is responsible, which is why they have ship and PIN cards. Under our laws even with chip and PIN cards the cardholder would not be responsible, which is why there is no reason for the card companies to go to the expense of chip and PIN cards.
If you wondered about the 3 digit code on the back--retailers are not allowed to keep the 3 digit code in their database, so there is some protection when a database is hacked. Doesn't do any good if the hacker is someone who has seen your card.
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11-01-2013, 12:09 PM #34Registered User
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same up here ^^ which must be why most all cc in Canada are chipped
I know a person who kept the pin with the card (yeah duh!) card & pin gets taken from wallet, perp withdraws a bunch of $$$, the large Canadian bank sez they are not responsible
fortuantley the RCMP call for the surveillance tapes in the gas bar where the card was used, recognise a person known to police make the withdrawals from an ABM, they interview the perp he calves and eventually a parent repays the moneyLee Lau - xxx-er is the laziest Asian canuck I know
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03-27-2018, 08:38 PM #35Registered User
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this happened to me today... whoever's got the number isn't very smart. first purchase was for almost $1200 at Best Buy. Luckily I check my personal email daily and had two emails from my CC company. card is locked and should be receiving new one in a few days.
I'm intrigued to know what goes on behind the scenes at these credit companies when cases are opened. I don't know how most CC fraud is carried out as far as purchases go. guessing mostly online purchases, but there have to be people loading the info onto dummy cards as well. if the latter case, in this day and age I can't imagine it being very difficult to pursue and at least have a decent shot at catching these people. surely there is data to pin point where and when the card was used, and what stores don't have cameras near check out..? with online purchases couldn't the IP be tracked?
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03-27-2018, 09:02 PM #36
I've always heard that it's not worth the cost for CC companies to pursue individual cases and they use the incidence of fraud to justify higher fees which they make much more money off than they lose from fraud. So...profit...
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03-27-2018, 09:03 PM #37
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03-27-2018, 09:16 PM #38
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03-27-2018, 09:45 PM #39
The CC company normally sticks it to the merchant for online sales. If a merchant ships to an address other than the CC billing address and the card is reported stolen they don't get paid by the CC company.
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03-27-2018, 11:04 PM #40Banned
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It's likely a ton of the fraud is also written off. Win win for cc. Stick it to merchant, when ya can't? Write it off.
Sent from my XT1650 using TGR Forums mobile app
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03-27-2018, 11:21 PM #41
Most credit cards today (compared to when this thread was started 5 years ago) are chip cards. PCI https://www.pcicomplianceguide.org/ rules have changed and the merchants have for the most part had to invest in new credit card processing processes (pin pads with chip, and software, audits for devices and verify no skimmers.) Fewer mag stripe readers and locks on devices/security enhancements) Plus their networks are now more often pen scanned and evaluated for issues (like separate segment or vlan for the credit card transactions and not on the general network used for other devices. Target was one of the first big corporate breaches revealed back 5 years ago now and they got into the network via access for heating and cooling vendor monitoring or now the IoT devices (internet of things) vulnerabilities. Firewalls and routers, etc. Most large companies are all chip now because if they are not and end up with a fraudulent transaction due to not accepting a chip card and having the card swiped, then they are liable and not the credit card company https://www.creditcards.com/credit-c...swers-1264.php So some of this will still not stop the cards being redirected like the roommate intercepting the credit card discussed above. Chips also have not done anything for online no card present transactions.
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03-28-2018, 12:36 AM #42
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03-28-2018, 07:32 AM #43AF
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Credit card companies have some pretty sophisticated software. Years ago I had a purchase denied on a Discover card, luckily had another card to complete the purchase. Called Discover before I walked out of the store and they had locked it based on one purchase somewhere in the N'East.
About five years ago I had two cards taken from my wallet at a YMCA. I did not notice the cards missing and an hour later Visa called me to ask if I had made a purchase at a local skate board shop. Thief had made the standard small purchase at a gas station, then went to the skate board shop. They locked the card and I immediately called AMEX to alert them and they had already locked it based on a $40 purchase at a retailer I shop at often. No idea how they can identify a local purchase from a place I shop at regularly but they did it. He also stole two sets of car keys (not mine) and took one of the vehicles for a joy ride, leaving the car in a Walmart parking lot later the same day.
In this case they had video of the guy, identified him and he ended up in jail. In WI they have a website that you can search the Circuit Court records and he had a pretty extensive record of petty crimes, theft, drugs, bad checks etc. So for fun I walk over to the court when he gets sentenced, only two blocks from my office. Theft happened in January, he was arrested in March and he pleads no contest. Can't make bail so he is locked up in county jail until sentencing which is in September. He is going to be sentenced to time served. So he is in a orange jump suit, shackled, court reads charges, he is asked several times if he understands he is pleading guilty. Judge asks if he wants to make a statement, he does. So he gets up and tells the court he understands what he did was wrong, has had several months to think about his actions and he is deeply sorry. Judge does not look happy. Judge says I have a 12 year old daughter who goes to the YMCA often, including on Friday nights when they have teen night. She knows that rifling through lockers looking for money, stealing CC's and car keys is wrong. Would not take her five months in jail to understand that was wrong. Throws the plea agreement out and gives him another 90 days in jail. The County public defenders are in the same building as my office and a couple of them go to the YMCA so I know them. His public defender is a new one, I had never seen her before. So I bump into one of the PD's and ask him about the case and he laughs, "first rule of a defense atty is never, never let a defendant talk when a plea agreement is in place". "She wont do it again"
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03-28-2018, 07:44 AM #44Funky But Chic
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Chase, which issues Southwest-branded cards (I have one of those) and many others, is super aggressive about denying stuff but it's not that bad since they text and email you simultaneously with blocking it and you can unblock it in seconds by replying to the text or email. It's kind of a pain in the ass sometimes but the whole process takes less than a minute if you're aware of what's going on and reply quickly. If you're concerned about card security I recommend them.
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03-28-2018, 07:48 AM #45
I've had a similar experience with their credit card, but they were worthless as tits on a bull when someone was drafting fraudulent checks against my checking account.
The local branch guys made it right because they're decent people and they're hungry for my next IRA rollover, but the call center I dealt with on the phone was brutal.
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03-28-2018, 07:52 AM #46Funky But Chic
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Yeah I haven't actually had to speak to a human so far.
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08-26-2019, 07:48 AM #47
so sorta related, I got a bill in the mail saturday from Samsung Finance (TD Bank) for a $700 phone someone bought online so apparently someone has my name, address, and SSN. I've reported application fraud, blocked, affidaivt on the way etc. Knock on wood this is the first time anything's happened since about 2004 for me.
Do i need to do something pro-active with credit agencies etc. ? have others had this and is it just the start? etc.
Dentist advice much appreicated!"Can't you see..."
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08-26-2019, 08:21 AM #48
Check your credit report with all 3 agencies to see if there are any other accounts opened with your SSN that you don't know about. Lock your credit report with all three credit agencies so no one can open any accounts with your SSN--or is that what you meant by blocked? I'd check on the IRS and SSA web sites for their procedures regarding stolen SSN. Among other things the thief can file an income tax return with your SSN to get a refund and when you get around to filing you may have a delay and big hassle getting your refund. File as early as you possibly can.
One of the hassles with locking your credit report is that some companies and agencies--the SSA for example--use the info on your credit report--things like old addresses--to verify your identity. If your report is locked you may have a hard time verifying your identity with one of those entities, but you have to do it.
You might want to look into LifeLock (owned by Norton)--I have no experience with this, other than getting spammed for it by Norton about once a week but might be worth it in your situation.
By reporting application fraud do you mean a police report? If not definitely file one.
If you have homeowner's insurance check with them; you might have ID theft coverage.
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08-26-2019, 09:30 AM #49
Not a CC issue but related story:
My GF is an executive at a huge global company and last year someone filed an unemployment claim against her company in her name. Dumb move given its easy to check. So her company tells her about it and denied the claim.
Typical government bureaucracy....even though the company denied the claim, state personally talked to my GF over the phone about it....they still decided to pay out the claim pending investigation.
Person is local, but government agency refuses to release address of person claiming to company.
Only in America....you can't make this stuff up.
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