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 Inside Stolen Credit Card Scams

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lakeside77
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Joined: 11 Jul 2008
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PostPosted: Sun Jun 26, 2011 12:41 am Reply with quoteBack to top

An interesting program on NPR a couple of weeks ago tells of the inner workings of the stolen credit market. It made me want to cut up all of my plastic.

What I found unsettling was the assertion that American banks seem to look upon $3 billion of fraudulent transactions each year as a nuisance rather than a problem. Maybe that's why they are so slow to adopt cards with embedded chips like the British and European banks did a few years ago.

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Jeannette
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PostPosted: Sun Jun 26, 2011 10:47 am Reply with quoteBack to top

Sadly, our chips aren't 100% hacker-proof either.

Maybe, just maybe our banks are a bit more cautious. When I was in Australia on vacation, I found they had blocked my credit card because I was trying to use it 2000 kilometers from home - it took me a very expensive phone call to tell them that everything was fine.

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