[J1ceasar]

Fyi, there is no fraud protection against the debit card. I know the commentator did not say this. FYI a lot of companies are now asking you to link your credit card account with them to your bank so you get a small discount do not do that.

[jojo]

I had a $400 cc charge at Walmart on 441 that wasn't mine. My cc company alerted me. I drove to the store thinking the manager would provide some information about the transaction but she did not appear concerned. Must happen frequently.

[Earlride]

Apple's credit card, supported by Goldman Sachs, only puts the last four digits on the card and no personal identity number. Difficult for nefarious individuals to "skim" the card.

[baramu]

This happened to me about eight years ago. They have a card made up. If you’ve ever bought anything online, that’s where they steal your information including the three digit number. It’s ugly out there. I even had someone who apparently got mixed up and sent the $200 boots to me. These are horrible people.

[spinner1001]

Credit card fraud has been around a long time. How it happened to you depends partly on your use of the card. Credit card skimming at gas pumps is very common. Less common is restaurants where a crooked food server takes your card for an ordinary meal payment but also swipes your credit card in another device that quickly collects your private card information. Online phishing is another way of collecting stolen credit card information.

What happens after that? Organized crime enterprises are likely involved (as in ransomware crimes). The brains of these organizations are often outside the US and they often have 'agents' inside and out of the US. Short story, many stolen credit card numbers end up on the Dark Web where they are sold. I have observed a Dark Web online store selling stolen credit card information and social security numbers. The online store looks similar to Amazon's website. It has search and filter features to find what you want. Want a gold AMEX card from Florida, you can filter on it. Pick what stolen numbers you want, put them in your cart, and check out. Just like Amazon. Pay in bitcoin or other cryptocurrency. Online stores even offer guarantees the stolen numbers you buy work or get free replacements.

Perhaps another criminal enterprise (maybe outside the US) often buys this kind of stolen information on the Dark Web. What do they do with it? Many of these organizations have their own 'agents' on the ground (called money mules). Their assignment is to take stolen credit card information from their boss and buy as much stuff as quickly as possible before detection and card cancellation. Then liquidate what the mule buys (e.g., sell the pot bought with the stolen card number). There is a split of money between the money mule and his boss.

The offshore online criminals are generally beyond the reach of US law enforcement. The lower level crooks on the ground tend to get caught but they don't even know their bosses. It's very lucrative and sophisticated. This kind of thing is growing because of more online activities and electronic payments. Banks are generally absorbing the losses as a part of doing business and US law enforcement can only make a small difference in it.

[Girlcopper]

Originally Posted by Travelingal702

How can someone use my credit card NUMBER (I still have the CC in my possession), without the chip or the three digit code, which I obliterate and memorize? Someone attempted to use it in a different state, 2000 miles away, to buy pot. My bank caught the transaction and contacted me. Of course, now I have a new card and go through the hassle of notifying all my CC contacts with the new information.

There are million of scams to get your cc info. I just got an email from the Geek Squad (computer repair co associated with Brandsmart). Said my yearly contract was being renewed on my debit card for $495.99. Really? I hadnt used them for about 25 years. Called the number and got some guy in Tunisia or something and he says he can cancel the charge BUT I haveto download an app so he can walk me thru it. Immediate red flags but ok, Ill play your game. So, I look up the app while on the phone with him, tell him ok I found it and he says, Go ahead and download it. Sooooo, I said you mean the app that shares my computer screen with you? Yes, he says, he needs to see my screen to walk me thru the app. Ya. Ok, buddy. I said so this was charged to my debit card and you have the number? Yes, again. Well, he stuttered and stammered when I told him I never pay anything with my debit card, only cc, so no way he has my number on file. He continued to stutter around when I continued the conversation in some colorful phrases and was silent when I told him he better be right with Jesus since he will be meeting him soon if any charges show on any cards I have. Never heard from him again and no charges incurred. The scamming nitwits are out there among us.

[Rlheinz19@yahoo.com]

I had a Visa gift card compromised before it had even been used. That was a shock.

My husband gets a text message every time I use our credit card. Half the time I get a call before I'm even out of the store "What are you buying @ xxxx store and why does it cost $xxx?"

[CoachKandSportsguy]

then there are credit card companies which are nice to the recurring charge companies, and update them with the new card number so that there is no interruption in service due to a new card number



so if the stolen purchase is a revolving charge, and you dispute the charge, but they don't clear it in time, or something goes wrong, the only recourse is to cancel the card. . . There are a few small, non bank credit card companies where the fraud department is too small and not automated. Was my mom's Fidelity card, and with her dementia, she was just oblivious, and a few other confounding issues, was a big pain in the a$$ so i just cancelled it.

Everyday card should have the minimum dollar amount, $1000 these days, and then set up a weekly transfer of like $100 from checking, etc, and you will not incur much interest if any and will never have a minimum monthly payment required. . . and you don't have to check it every day, unless you are a money control freak. . .

The everyday card with a minimum amount and a balance will usually get flagged right at the point of sale if the purchase is big enough. . . my everyday card has never has a problem, with Bank of America, so far. . .

finance guy

[Graspher]

Here’s what we do...

Pay with cash at all restaurants.

Carefully examine the card slots at all gas pumps and retailers.

One card for all online retail.

One card for in person charges.

One card for online reoccurring bill payments.

We’ve only been compromised a couple of times in 15 years and it was always with the card used online.

The CC company faithfully caught every non-us charge that was made - zeroed the charge and overnighted a new card.

...and it has worked very well so far.

[CoachKandSportsguy]

Credit card fraud isn't the worst fraud. A colleague in MA had a live person in AZ go into a branch of BOA and write a check with ID against his account withdrawing money. . .

Now he had a very hard time to get his money back

finance stories guy

[Jalenza]

Originally Posted by villagetinker

I agree with above on the email notifications, I have caught several charges that were fraud. In discussions with the CC company, they indicated the scammers are using random number generators and charging amounts like 1 cent that go unnoticed, if the charge goes through, then they go for the bigger charge. The emails effectively stop this, but you still have to go through the hassle of a new card. I am looking into using a second checking account for reoccurring payments, with NO overdraft protection. I will just transfer in the amount necessary plus a small surplus as needed to cover the upcoming bill. I think this will work.

As a former Banker(35 years) as good a solution that you can use, it is one that is often suggested by the Bank

[irishwonone]

Originally Posted by retiredguy123

Apparently, it's the merchant's decision to require the chip or the 3 digit code. Some do and some don't. I don't think many banks require anything except the actual credit card number for processing a transaction.

Your correct. Smaller companies didn’t want to pay for costly machines!!

[Marine1974]

Pot is a cash only business.

[Nick B]

Originally Posted by MrFlorida

Inside job, I had a credit card canceled because of a fraudulent charge, and a new card and number issued... a few days later, I got another fraudulent charge on the new card, which I didn't even receive yet....

I have also had that happen.

[Nick B]

Originally Posted by spinner1001

Credit card fraud has been around a long time. How it happened to you depends partly on your use of the card. Credit card skimming at gas pumps is very common. Less common is restaurants where a crooked food server takes your card for an ordinary meal payment but also swipes your credit card in another device that quickly collects your private card information. Online phishing is another way of collecting stolen credit card information.

What happens after that? Organized crime enterprises are likely involved (as in ransomware crimes). The brains of these organizations are often outside the US and they often have 'agents' inside and out of the US. Short story, many stolen credit card numbers end up on the Dark Web where they are sold. I have observed a Dark Web online store selling stolen credit card information and social security numbers. The online store looks similar to Amazon's website. It has search and filter features to find what you want. Want a gold AMEX card from Florida, you can filter on it. Pick what stolen numbers you want, put them in your cart, and check out. Just like Amazon. Pay in bitcoin or other cryptocurrency. Online stores even offer guarantees the stolen numbers you buy work or get free replacements.

Perhaps another criminal enterprise (maybe outside the US) often buys this kind of stolen information on the Dark Web. What do they do with it? Many of these organizations have their own 'agents' on the ground (called money mules). Their assignment is to take stolen credit card information from their boss and buy as much stuff as quickly as possible before detection and card cancellation. Then liquidate what the mule buys (e.g., sell the pot bought with the stolen card number). There is a split of money between the money mule and his boss.

The offshore online criminals are generally beyond the reach of US law enforcement. The lower level crooks on the ground tend to get caught but they don't even know their bosses. It's very lucrative and sophisticated. This kind of thing is growing because of more online activities and electronic payments. Banks are generally absorbing the losses as a part of doing business and US law enforcement can only make a small difference in it.

I just had a thought do the criminals buy stolen credit cards with stolen credit cards?