Victim of Credit Card Fraud

Discussion in 'Community Discussion' started by UKnjb, May 22, 2007.

  1. UKnjb macrumors 6502a


    May 23, 2005
    London, UK
    So I got back tonight (midnight UK time) and checked my e-mails. There was one from my bank/credit card provider telling me that my internet validation password on my credit card had been changed during this evening and if I hadn't changed it to contact them. As I hadn't changed it (I had been on the river all evening) I did contact them and ------ found out that my card had pretty well been heavily used during the approx 2 hours between the password change and me picking up the e-mail. The operator to whom I spoke, and who immediately blocked the card, told me that cash withdrawals had been made from Lichtenstein (uh?) and goods purchased from a UK company that I had never heard of ( There was also a Christian Aid donation of £5 made tonight. Good for Christian Aid at least. The total amount that has been obtained on my card seems to be about £2000, all fully recovered as of now, so no personal loss and hurrah for me.

    This is all a new one on me as I am only an occasional Internet purchaser and those purchases have been from places like Amazon and 'reputable' sites - ie ones that have good old HTTPS urls. The majority of sites from which I do buy have a validating link to my bank that asks for a separate password, that had been changed as above, to confirm that I am the card-holder - a neat on line checking system IMO, but somehow failing in this instance. The card has never ever physically left my possession, never been used for cash withdrawals, and I have an inherent paranoia about identity and other sorts of theft. All card receipts are shredded when I have checked my statement.

    Apart from the weirdness of how this could have happened, I am just so impressed with the software that the card companies use to monitor regular usage and how the triggers that indicate doubtful usage kick in for cardholders' protection. What I don't understand is how the perpetrators could have managed to use my card to make cash withdrawals - chip and PIN means that they need my PIN (never used) and the physical card or its equivalent.

    Is nothing safe any more? :(
  2. SMM macrumors 65816


    Sep 22, 2006
    Tiger Mountain - WA State
    Thieves are often very clever. They seem to have been around forever, so I do not see them disappearing anytime soon.
  3. jng macrumors 65816


    Apr 6, 2007
    I don't know. I purchase quite often from the Internet is identity theft and fraud is certainly a concern. But that's also why I love American Express and I use AMEX most often. I have a Visa (amazon) that I use strictly for amazon and some other random things (gym membership). I only use my debit card for local purchases, usually groceries and gas and clothes every now and then.

    So far I've been lucky I guess? I'm not a shredder like you. I just crumple and throw away (what isn't immediately lost).

    Good thing you have a great bank. Did they give you tips on how to prevent it from happening in the future? Or did they have any insight as to how it happened in the first place?
  4. CmonRichard macrumors newbie

    Jan 23, 2007
    Invercargill, NZ
    Credit Card Scams

    I remember reading an article in a Hospitality Industry magazine about 4 years ago which outlined some ways criminals obtain this information:

    Employees at restaurants are approached & provided with a magstirpe reader & offered a fee per card no. provided. When you make a purchase the employee would swipe your card through the eftpos terminal & the reader to record your mag stripe details (which includes your PIN). These details are then encoded onto other Credit/Debit cards & used for fraudulent purposes.

    Banks can only do so much to try & stay one step ahead of criminal activity. It's a game of cat & mouse. Criminals find a way to defraud people, banks introduce new security measures to counter criminals, criminals find a way to circumvent new security measures. It's an ongoing battle.

    well done to your Bank for picking up on the problem so quickly & efficiently.
  5. mkrishnan Moderator emeritus


    Jan 9, 2004
    Grand Rapids, MI, USA
    £5 for Christian Aid, eh? Perhaps your thief was Robin Hood? :( I'm glad you caught it quickly and are quickly in the process of getting it fixed, at least! :)

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