Credit card fraud

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  #1  
Old 12-04-2019, 07:57 PM
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Default Credit card fraud

I am aware that many of us have suffered having our credit card compromised. Mine was used for a purchase over $850 at the Walmart in Summerfield on Monday. My credit card company notified me that they had declined a second attempted charge of $420. They have already removed the first charge. However, I thought being a good citizen, that I would go to Walmart the day after these charges occurred so that perhaps they could produce some additional evidence. The manager seemed concerned but did not follow up with me. I also stopped by the Sheriff's office on 466 just to let them know in case there's a pattern. I didn't file a report but again wanted to alert them but there was little interest. Is there no hope for catching these folks?
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  #2  
Old 12-04-2019, 08:11 PM
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They really don't care about catching these people. The cost of credit card fraud is built in to the cost they charge customers and merchants. But, as long as it was a credit card, not a debit card, the bank is required to remove the charges from your account by Federal law. I have an alert set up for all financial accounts that will send me an email immediately whenever there is a transaction that exceeds 5 dollars. So, I would know as soon as my card was compromised. If banks really wanted to prevent fraud, they would put a photo on your credit card and/or use fingerprint or eye scans to identify the account owner.
  #3  
Old 12-04-2019, 08:30 PM
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Why go to Walmart.


Local peeps don't care.............it's a cost of doing business and they have a budget for it.


Good thing..............it didn't cost you.
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  #4  
Old 12-04-2019, 08:38 PM
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Quote:
Originally Posted by retiredguy123 View Post
They really don't care about catching these people. The cost of credit card fraud is built in to the cost they charge customers and merchants. But, as long as it was a credit card, not a debit card, the bank is required to remove the charges from your account by Federal law. I have an alert set up for all financial accounts that will send me an email immediately whenever there is a transaction that exceeds 5 dollars. So, I would know as soon as my card was compromised. If banks really wanted to prevent fraud, they would put a photo on your credit card and/or use fingerprint or eye scans to identify the account owner.
Apparently, in many cases, it is internet fraud originating in Eastern Europe, Russia, and other countries. How would they catch them? Only once did the credit card company call and say it was a real person who attempted to charge $600+ at Marshall's in South FL.
  #5  
Old 12-04-2019, 08:40 PM
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Default But the consumer pays !!!!

The consumer pays with higher prices on goods and services from the business!!!

So WE suffer !!!
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  #6  
Old 12-04-2019, 08:52 PM
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We have our credit card companies set up to send a text when a charge is made. One evening Mr. Boomer came home from a meeting and said, “Did you buy a membership in something called Tinder?”

After I stopped laughing, I explained to him what Tinder is.

Because of that instant text message, we ruined whoever’s good times with Tinder by calling Am Ex immediately.

I am not surprised there was little interest in tracking down the thieves. Sometimes, if it is an inside job, an employee might get caught. But otherwise, I think most credit card fraud is not pursued. The crime is rampant and the victim is covered when the charges are dismissed so I think time-wise, it has to move way down the list of things law enforcement has to take care of.

It is aggravating I know. I will never figure out how whoever took mine got it. But, at least, that text message with notification got it shut down fast.

Last edited by Boomer; 12-04-2019 at 09:05 PM.
  #7  
Old 12-04-2019, 09:50 PM
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I went credit only back in ‘98. Certainly pay the balance off each month as to not incur interest charges. I get a great deal of cash back in this fashion.

I have put many major expense on cards over the years. College tuitions, funerals, major deposits on new cars, etc...

Of course with this comes many CC compromises. I believe I have had 8 now. Once was a charge on a replaced card that occurred before I even opened the envelope in which the card was mailed to me in.

Apparently there are many scammers in the world that steal numbers in some manner and they do it full time. I doubt any ever get caught.

It’s a shame because retailers just raise the prices on all of their goods to cover this loss they suffer. Walmart being the main victim worldwide. Thus, the consumers, all pay for it.

Certainly a better system should be instilled to avoid this, but it might interfere with the convenience in using them. It would be fine to me, but some people may not like that either.
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Old 12-04-2019, 10:34 PM
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I never allow anyone to take my credit card out of my sight. So, I only use cash in restaurants. All it takes is for a restaurant employee to snap a cell phone photo of your card, and they are on a spending spree.
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Old 12-04-2019, 10:39 PM
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Electronic Wallet, CC scanners brought to your table at checkout, paypal are all helping.....more is needed.
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Old 12-04-2019, 10:46 PM
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Quote:
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Electronic Wallet, CC scanners brought to your table at checkout, paypal are all helping.....more is needed.
I agree, except for paypal. If you use paypal, you give up your Federal protection rights to dispute a credit card charge. Paypal is a middleman between the merchant and you. So, once you pay money to paypal, even with a credit card, you cannot dispute the charge based on non-performance by the merchant. I never use paypal for that reason.
  #11  
Old 12-04-2019, 11:33 PM
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Quote:
Originally Posted by retiredguy123 View Post
I agree, except for paypal. If you use paypal, you give up your Federal protection rights to dispute a credit card charge. Paypal is a middleman between the merchant and you. So, once you pay money to paypal, even with a credit card, you cannot dispute the charge based on non-performance by the merchant. I never use paypal for that reason.
I'm going to sound redundant, but I'm asking anyway. For instance: My niece asked me to sponsor her two kids in a danceathon to raise money for a music teacher and field trips for her kids' school. The link was through paypal, and I used my visa. does that mean if there is a problem (school overcharging or being hacked, etc.,) I cannot go back to Visa for restitution? Doesn't paypal have some level of protection? I thought they did, or used to.
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Old 12-04-2019, 11:58 PM
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PayPal has a Resolution process for disputing a claim:

“If you've tried working with your seller, but still need to file a dispute, here's how:

Go to the Resolution Center.
Click Report a Problem.
Select the reason for your case and click Continue.
*The Resolution Center is not currently available on the PayPal mobile app.

What's Next?

You have 20 days from the date you opened the dispute to resolve it with your seller. If your seller isn't responding or you can't come to a resolution, you can escalate the dispute to a claim. If you escalate your dispute, PayPal will review it and decide the outcome. If we need additional information from you, or need you to take action, we will email you. You can check the status of your dispute at any time in the Resolution Center.”


However, PayPal wanted my banking information several years ago and I do not deal with them myself because of that.
  #13  
Old 12-05-2019, 06:12 AM
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Most places I travel in the world, all the restaurants bring a tablet type device to your table if you pay by credit card. Almost no place in the US does this. This makes no sense. This step alone would prevent a lot of credit card fraud.

It's like escalators. Everywhere else in the world they start up when you step on and stop when no one is on them. Here they run 24 X 7. Again makes no sense. The technology to do this is simple and cheap and it saves electricity.
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Old 12-05-2019, 06:35 AM
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Wow! We had this happen too. Someone made a $1600 purchase from Apple. Because of a phone number they used for verification we know exactly where the thief stole the number...at one of the Villages country clubs 6 months ago.
  #15  
Old 12-05-2019, 06:37 AM
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Quote:
Originally Posted by CFrance View Post
I'm going to sound redundant, but I'm asking anyway. For instance: My niece asked me to sponsor her two kids in a danceathon to raise money for a music teacher and field trips for her kids' school. The link was through paypal, and I used my visa. does that mean if there is a problem (school overcharging or being hacked, etc.,) I cannot go back to Visa for restitution? Doesn't paypal have some level of protection? I thought they did, or used to.
Yes, paypal has there own, private resolution process, that may satisfy you if you have a problem. But, my point is that, by paying paypal using a Visa card, the only issue you can raise with your bank and Visa is whether or not paypal actually paid the money to the school. On the other hand, had you paid the school directly with a Visa, then you could dispute the charge with your bank within 60 days, and then, the bank would be required to immediately credit your Visa account and conduct an impartial investigation of the issue directly with the school. This process is mandated by Federal banking laws. I believe that some merchants use paypal as a credit card middleman because they do not want to follow the Federal banking dispute resolution process.
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