Warning re Credit Card Fraud

[slipnot]

Not a question - just a warning - never thought it could happen to me. Someone tried to fraudulently use my credit card today from 'company' in USA. Luckily the transaction was refused and my bank contacted me and closed the account. I seldom use this card but last week I bought from a 'bidding' tv channel for the first time (think call centre is in India) and am 99% sure there is a connection. BE WARNED...

[Ethel]

I wonder how difficult it would be for the credit card companies to allow people who don't go abroad often to put a block on spending abroad?

And if the customer wants to make an occasional overseas purchase, require them to contact the company in some way beforehand.

Probably far too complicated, and unpopular with the customer.

[slipnot]

Hi Ethel, the trouble is if you're making online purchase or by telephone, you don't know where the company is located. We have to give our credit card number and the 3-digit number on the back to someone. Large company or not, we don't know who they are or if they're selling card info to fraudsters. Watchdog programme tonight showed how easy it is for anyone to set up a website for under �60 and offer non-existent goods at unbelievable prices, make a huge amount of money then they disappear. Appears there's no legislation here in UK, as yet, to combat this.

[Ethel]

I know all about that - somebody put my telephone number on a website selling mobile phones.

I had hundreds of calls from all over the world from people wanting to know where there phones were. They had all paid by Western Union though as the company said the equipment was down for taking credit cards.

I reported the company to everyone I could think of.

I had to change my number.

[slipnot]

Sorry to hear that Ethel. Western Un*** was trying to get money from my credit card, so there's a coincidence! I worked in finance industry for 20 years and am very careful with security etc, so if it happened to me.....

[annie0000]

As an intresting aside to this, I was buying a car last week with my debit card and as the transaction was high value, the salesman had to phone up the bank to go through extra security and of course, they wanted to speak to me to get extra security details. They asked me a couple of questions one of which was to give a couple of letters of my password. I initially confused this with my on line banking password, but subsequently got the question correct. I said, "sorry about that, it is difficult sometimes to keep track of which password I have used for which purpose" the lady from the bank said - "oh, I use the same one for everything so that I don't forget it"

I did point out that I work in risk management and that it was a risk to keep the same password for everything as once it was cracked, the fraudster would have access to everything.

If the security staff within the bank don't know how to keep their details safe, it makes you wonder what they are doing with ours!

[slipnot]

Couldn't agree more Annie. It's the world we live in. When I got the call from my credit card's fraud section they said they wanted to check my recent transactions and proceeded to ask me my name, first line of address, then initials from my mother's maiden name - which rang alarm bells with me and I refused. They then asked me to phone the number on my credit card and ask for fraud section, which I did. Never give ID information to a caller as you don't know who they are.

[BenDToy]

slipnot - that is why they often only ask for some of the information eg 3rd and 5th characters etc. However I totally agree with you. Never, ever give out information to someone who calls you. They could be anyone. And don't agree to call them back on a number they provide.

[annie0000]

Hi slipnot - I actually do work in Financial Services Risk Management - and in fact, I used to work for the same bank that this lady was working for. It did cross my mind to phone some ex colleagues, but I am not sure how well that would be received!

[slipnot]

Bendtoy - thanks for that important point - not using a number THEY provide. Tempted to stop using credit cards etc and go back to good old-fashioned cash. Would save money if I didn't buy online etc anyway! Why don't these fraudsters pick on someone else - when I'm out shopping I see loads of handbags balanced open on top of trolleys! Now there's another story!