Credit card fraud

[Air4Life]

I just had my account number compromised.

http://www.americanbanker.com/issues/177_221/the-10000-identity-fraud-rings-in-u-s-defy-stereotypes-1054384-1.html

"...many of the rings turned out to be family operations. Rings made up of friends were also common."

[nhmaf]

This is so frustrating and aggravating when it occurs.
It has happened to my wife and me once each (separate cards/occasions) and it can create alot of turmoil with all the things we put on credit cards these days, automatic monthly payments, etc.

Hope you get it cleared up without any financial loss on your end.

[Air4Life]

I just wish I knew by what means they used to get my number?

[Bob_Roller]

I had this happen earlier this year, I started getting charged by some porn site in London (UK) .

The only charges that I have made outside of the US, was an order from Motobins in September, 2011 .

[Air4Life]

Bob, some people would say motorcycle accessorizing and porn are one of the same thing.  

[nhmaf]

Banks and online businesses that do web-sales are being hacked more and more frequently - those without adequate and updated security practices are falling prey to professional and amateur hacking methods every week.    Some people are their own worst enemy if they simply toss their monthly bills and credit card statements into the recycling bins or trash bags without shredding them thoroughly.

[Barry]

I don't know how it works in the US but in the UK I now have to provide a separate user name and password before a card transaction gets processed by the bank and the online retailer does not get to see this. The card number and even the security code on the back of the card are no longer enough to steel your money.

It's important to no longer type passwords out in full. In the past when someone hacked your computer they used something called a keyboard logger which recorded your passwords as they were typed in. This is why most if not all financial institutions have moved to either picking the password characters from a drop down menu or asking for randomly generated character positions from the password. My bank now sends a one use only password by mobile phone before I can create certain new transactions online. They also tell me when I last logged in and even what transactions I have carried out in the current session. The Banks are trying to fight the war on this. It goes without saying we must also have up to date antivirus protection.

[Dizerens5]

It's getting crazy. My electricity supply company wants me to record my meter reading online but to do it, I have to "open an account" (O dreaded sentence!) and give not only a username (not my own name) and a password, but also a "memorable date", not of course including any family birthdates -- in fact -- anything at all memorable. Can't even buy any damned thing now without "opening an account". And then find you can't close it down even if you want to -- see Amazon. Or if you can close it down, you find you will not be allowed to open another -- see Ebay. They all just drive me straight honk. I'm slowly returning to cash.

[Air4Life]

They all just drive me straight honk. I'm slowly returning to cash.

I feel the same way as you.  I'd do away with my credit card all together if it wasn't needed to rent an automobile, etc... on rare occasions.  

The only reason why I opted for paperless correspondence from my auto insurance, credit cards, bank, is because the US post office has a terrible reputation of not delivering my mail properly.

Maybe soon enough an official email system will replace the postal system completely.  Its a bittersweet wish of mine, anyway.

[Barry]

Can't even buy any damned thing now without "opening an account". And then find you can't close it down even if you want to

One of the things that gets me is you can open an account online but they won't even tell you how close it down when you want to and you'll carry on getting promotional e-mails for ever.

I also hate it when they insist I choose a reminder.  As if I'm ever going to try and remember this stuff and not write it down. They do make life complicated.

[Dizerens5]

It's getting even worse. I see from the ads on daytime tv that some businesses (clothing mostly) not only require you to "open an account" if you just want one item -- they also insist that the account will be a credit account. So you get your credit status investigated whether you want that or not.

[Lucky_Lou]

New scam on the go in the UK at the moment, card through the door saying you missed a delivery ring this number..09****** first thing it does is suck £100 and puts it on your phone bill yet BT/ Police seem unable to stop, block or retrieve the money and a lot of old folk are falling for it. never dial 09 for anything.
Lou

[Barry]

Why the government allowed such high charges for telephone calls in the first place is beyond comprehension. It's just asking for a scam.

In a similar vein the government has finally woken up to the problem of  pay day loan sharks charging in excess of 2000% a year interest and advertising on the TV. You would have to be a bit dim or desperate to pay those sort of interest rates but why in the name of common sense is there not a law that caps the maximum rate that loan companies can charge at something closer to sanity. It's not rocket science, Japan has such a cap.