Wine purchased online - CC Fraud

[ibglowin]

Agreed, BTW both charges were declined due to non matching expiration date. So they somehow had the card number but not the expiration and they tried to guess.

 

[Floandgary]

Unfortunately too many of us remember not awfully long ago when people were being accosted/assaulted/murdered over a pair of tennis shoes/coat/hat... We generally don't carry cash anymore and have gotten used to the "instant gratification and ease of use" of that thin piece of plastic. Welcome to the world of Electronic Living! Daily news story's on CC screw-ups, spying, and personal infringements bear out just how fragile the Electronic infrastructure is. The trouble caused is quite pronounced and spreads worldwide,,,, pandemic if you will. What to do??? Personal vigilance, tho at times inconvenient, is the best solution. The way I see it, making my own wine reduces exposure to the financial network in not having to run to a store for my favorites!!

 

[Putterrr]

They have become insanely efficient at detecting and processing fraud. Now if they could expend some of that energy to making the cards more secure...

my friend i mentioned earlier said they could make cards even more secure but the issue becomes us users. Big banks are worried that if they make cards that require a tougher validation process, we the consumer will become annoyed and stop using them or switch to a different bank/card. They would rather take some losses and have us happy and spending like crazy. Sad really.

2 examples of this thought process. first why has it taken so long for US banks to start using chip cards when the technology has been around for many years. Second, why after switching to chip cards, does my bank allow me to make purchases up to $100 without using a pin.

cheers

 

[corinth]

CC card fraud

This weeks 60 minutes discussed card fraud

http://www.cbsnews.com/news/swiping-your-credit-card-and-hacking-and-cybercrime/

Corinth

 

[Putterrr]

Here is a thought about online credit card use. Why dont websites ask for you pin. They want your number and the 3 digits on the back but thats it. How about verifying with a pin that is not written down on the card?

cheers

 

[Just-a-Guy]

A friend of mine, who till recently was running the credit card fraud division at a major Canadian Bank, explained how the chip cards work. When you put you card into the machine to make a purchase, the card connects with your bank and asks for your pin. If that is right the bank then asks for a unique code contained in the chip. If that is correct, the transaction goes through. The last thing the bank does is send your card another different code for the next time you use your card. It is a two way process with the code always changing. Better system but not perfect especially when I can make purchases with the tap and go feature that requires no pin to be entered (for low dollar amounts).

Makes you want to drink. Cheers

How does this work for online purchases?

 

[Putterrr]

How does this work for online purchases?

thats also problem. if your card is not in a machine the chip is useless.

especially when companies like home depot keep card numers onfile. I was shocked that i when i returned an item and they didn't ask for my card to issue the credit.

 

[richmke]

Here is a thought about online credit card use. Why dont websites ask for you pin. They want your number and the 3 digits on the back but thats it. How about verifying with a pin that is not written down on the card?

cheers

Your question presumes that someone does not steal the information from a website you have used. If website A has your number, ccv, and pin, then someone who takes the information from website A can use it on website B.

 

[Boatboy24]

Well, I did end up getting a new iPhone a few weeks ago and I have to say that I'm loving Apple Pay. I just wish NFC payments were more widely accepted. But that day is coming. It is going to be interesting to see how it all pans out with CurrentC. Some vendors that will be accepting that (when it comes out) are not allowing other payment systems like Apple Pay and Google Wallet.