Fraudulent credit card transactions
Discussion
I've just received my credit card statement to find nearly £3600 worth of flight tickets booked on it that I didn't buy.
I've contacted the card company, the card is blocked and claims for all transactions raised, once I've done some paperwork the monies will be credited back to me.
Do they not do any trending on transactions?
I've only had the card since June and have a dozen or so genuine transactions, most under £100 except for one (car insurance) and another for £180.
The fraudulent transactions are for for £1239, then two days later £448, then 4 days later £985 finally 10 days later £789, plus some smaller transactions to the same recipient on the same dates, booking fees maybe?
Most were made in Belgium, one in the UK and another in the US.
I'm surprised monitoring systems didn't smell a rat ?
I'd love to know how they got hold of the card details too, I had my old credit card for 10 years+ and never, ever had an issue.
Would I be wrong in saying its most likely the card details have been stolen from one of the genuine transactions I've made ?
Seems odd I've had a card for years with no problems, I change over and this happens.
New card is mastercard, old one was visa - I can't believe that mastercard would be any less secure.
Thinking that maybe I'll change card to a more secure one. Do any use those card reader systems for credit cards?
Any recommendations ?
I've contacted the card company, the card is blocked and claims for all transactions raised, once I've done some paperwork the monies will be credited back to me.
Do they not do any trending on transactions?
I've only had the card since June and have a dozen or so genuine transactions, most under £100 except for one (car insurance) and another for £180.
The fraudulent transactions are for for £1239, then two days later £448, then 4 days later £985 finally 10 days later £789, plus some smaller transactions to the same recipient on the same dates, booking fees maybe?
Most were made in Belgium, one in the UK and another in the US.
I'm surprised monitoring systems didn't smell a rat ?
I'd love to know how they got hold of the card details too, I had my old credit card for 10 years+ and never, ever had an issue.
Would I be wrong in saying its most likely the card details have been stolen from one of the genuine transactions I've made ?
Seems odd I've had a card for years with no problems, I change over and this happens.
New card is mastercard, old one was visa - I can't believe that mastercard would be any less secure.
Thinking that maybe I'll change card to a more secure one. Do any use those card reader systems for credit cards?
Any recommendations ?
I'm always surprised by how little of a crap credit card companies and retailers appear to care about credit card fraud.
One time my wallet was stolen. The thief tried to buy £4k worth of goods from the Apple store on Regent Street using my corporate Amex. It was flagged as a suspicious transaction so they had to call Amex for authorisation. The thief was asked his (i.e. my) date of birth but didn't know it. The transaction was declined but I was surprised to find out that they just let the guy walk at that point and, apparently, had no CCTV footage of him to provide to the police.
A couple of years ago, an address in Kent (Maidstone, I think it was) kept trying to open credit cards in my name despite me never having lived anywhere near there. They were giving some historic addresses/employers of mine as support for the applications. The first was flagged as suspicious and my name was on a special list after that so that credit cards couldn't be approved without more detailed security. But, apparently, it wasn't worth the credit card company's time to catch the fraudster - the address they had for him wasn't good enough evidence and issuing fake cards to catch the fraudster in the act was too much hassle.
One time my wallet was stolen. The thief tried to buy £4k worth of goods from the Apple store on Regent Street using my corporate Amex. It was flagged as a suspicious transaction so they had to call Amex for authorisation. The thief was asked his (i.e. my) date of birth but didn't know it. The transaction was declined but I was surprised to find out that they just let the guy walk at that point and, apparently, had no CCTV footage of him to provide to the police.
A couple of years ago, an address in Kent (Maidstone, I think it was) kept trying to open credit cards in my name despite me never having lived anywhere near there. They were giving some historic addresses/employers of mine as support for the applications. The first was flagged as suspicious and my name was on a special list after that so that credit cards couldn't be approved without more detailed security. But, apparently, it wasn't worth the credit card company's time to catch the fraudster - the address they had for him wasn't good enough evidence and issuing fake cards to catch the fraudster in the act was too much hassle.
Ignore the visa/MasterCard issue, it will be down to the issuer and the merchant/merchants acquirer to monitor fraud. There are some industry standards tools but they are onto as good as the rules in place and active monitoring. Nothing worse than a false positive when monitoring fraud.
Retailers have no power to stop anyone who is using a stolen card from leaving the store, all they can do is retain the card. Calling the police is pointless as they will be long gone.
We had someone try and collect a parcel of which the goods had been bought using a stolen card, we knew he was coming and contacted the Police, as we had no proof other than an email from our security dept they wouldn't do anything. All we could do was turn them away as they had no matching ID for the parcel.
We had someone try and collect a parcel of which the goods had been bought using a stolen card, we knew he was coming and contacted the Police, as we had no proof other than an email from our security dept they wouldn't do anything. All we could do was turn them away as they had no matching ID for the parcel.
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