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Card Fraud - How To Beat (most) of It.
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James
Posts: 2,059 Forumite
in Credit cards
Home Office minister Andy Burnham said: “Using "biometrics" such as fingerprints to validate transactions would be the "ultimate Pin number"
Well Mr. Burnham, this is exactly the system I use now, Chip & Print and here’s what these types of cards provide:
Insert card into Chip reader. Chip is read, card verified as valid and a transaction slip is produced for you to sign – with YOUR THUMBPRINT.
It is early days yet, but I’ve been using this system for 2 years both at home and abroad, carrying out more than 200 transactions and no retailer has ever rejected my card.
Some retailers do question this system because it’s usually the first time they’ve come across it.
I explain to them that it is visually easier to check your print on the transaction slip against the one on the magstrip than it would be a written signature. (which can be forged). Every single retailer has agreed with some commenting, well if it wasn’t you, you wouldn’t do this would you.
The majority of retail staff aren’t aware that advice from APACS for handling suspicious cards or transactions slips is as follows: Handle cards or slips by the edges, to protect forensic evidence (ie. the perpetrators prints). This is when the penny always drops.
I’m already using this theory with the blessing of Equifax to protect myself from ID theft. www.freeidprotection.co.uk (See Hands of My Dosh - Home page under Media).
Here’s What Could Be Done To Deter Most Types of Card Fraud:
“Customers and banks need to work together to fight financial fraud.” Angela Knight , chief executive designate of the British Bankers Association (BBA), 22 Nov 2006.
Crooks can’t obtain credit cards or loans in my name without submitting their print. Logic suggests that the same system will work with plastic cards and the BBA should be working with those who wish to use this system including retailers and the police.
Just suppose card issuers offered cardholders Chip & PRINT cards? The chip (and/or magstrip) when read would inform retailers that the cardholder Thumprinted to verify a transaction rather then entering a PIN or using a written signature. You’d have a deterrent; cardholder liability free card, retailer liability free (as long as a print is submitted) which, if used fraudulently would help ID perpetrators.
Chip & PRINT cards could even be used for purchasing goods via the Internet, or by Mail Order, Phone or Fax.
CNP vendors when checking the card would be made aware that the Card being used was Chip & PRINT. A simple PRINT taken at point of delivery of the goods (on the cardholders insistence) I’m sure would deter may a crook.
What a Chip & PRINT card doesn’t do:
a. It cannot be used at ATM’s (No PIN). Don’t despair you can use Chip & PRINT debit cards to get cash back from certain retailers.
(Using a credit card at an ATM is an expensive way of getting cash, but this doesn’t seem to bother crooks – you can deny them the pleasure).
b. It wouldn’t have any effect against services being purchased online, i.e. anything that is downloaded onto a computer – movies, music etc.
c. It wouldn’t deter funds disappearing out of your account into a dodgy vendors.
As of 1st of April this year cardholders in England & Wales report card fraud to their card issuer and not the police. Chip & PRINT or indeed Magstrip and PRINT cards furnish POLICE with the forensic evidence they need to apprehend crooks. You can force crooks to show their hand and give the Police the tools they need to do the job.
Notes:
Thumbprint pads are available from many sources. One source can be found here www.freeidprotection.co.uk and then follow the link to Solon (Theft & Fraud Prevention).
Hint: Practice using your print pad before using it on your card.
Hopefully retailers will provide pads at point of sale. The Print system is also a wonderful back-up for retailers if communications fail and cards can’t be checked electronically. Using the old card impression system with PRINTs means retailers can securely continue to accept payment by card.
It’s your choice. Chip & PIN, Chip & Signature or Chip & PRINT and it’s up to the Card Industry to Act and Take this further.
Safer: Pin Number Thief Targets Women.
Deterrent: Not 1 single case of Card or Cheque Fraud in 5 years.
Theif Taker Value: The fraudster in question got 3 months.
Well Mr. Burnham, this is exactly the system I use now, Chip & Print and here’s what these types of cards provide:
- Cards which are safer to carry than carrying cash.
- Cards where I can’t be held liable i.e. for alleged PIN negligence.
- Cards which deter fraudsters using them by greatly enhancing the chances of crooks being identified and caught.
- Contact your card issuers and obtain Chip & Signature Cards.
- Upon receipt of your card sign your card with your Thumbprint (details below) vice written signature.3. When you call your card issuer to confirm receipt / activate your card, have them log the on your file that you’ve signed your card with your Thumbprint.
- Carry a personal Thumbprinting pad.
Insert card into Chip reader. Chip is read, card verified as valid and a transaction slip is produced for you to sign – with YOUR THUMBPRINT.
It is early days yet, but I’ve been using this system for 2 years both at home and abroad, carrying out more than 200 transactions and no retailer has ever rejected my card.
Some retailers do question this system because it’s usually the first time they’ve come across it.
I explain to them that it is visually easier to check your print on the transaction slip against the one on the magstrip than it would be a written signature. (which can be forged). Every single retailer has agreed with some commenting, well if it wasn’t you, you wouldn’t do this would you.
The majority of retail staff aren’t aware that advice from APACS for handling suspicious cards or transactions slips is as follows: Handle cards or slips by the edges, to protect forensic evidence (ie. the perpetrators prints). This is when the penny always drops.
I’m already using this theory with the blessing of Equifax to protect myself from ID theft. www.freeidprotection.co.uk (See Hands of My Dosh - Home page under Media).
Here’s What Could Be Done To Deter Most Types of Card Fraud:
“Customers and banks need to work together to fight financial fraud.” Angela Knight , chief executive designate of the British Bankers Association (BBA), 22 Nov 2006.
Crooks can’t obtain credit cards or loans in my name without submitting their print. Logic suggests that the same system will work with plastic cards and the BBA should be working with those who wish to use this system including retailers and the police.
Just suppose card issuers offered cardholders Chip & PRINT cards? The chip (and/or magstrip) when read would inform retailers that the cardholder Thumprinted to verify a transaction rather then entering a PIN or using a written signature. You’d have a deterrent; cardholder liability free card, retailer liability free (as long as a print is submitted) which, if used fraudulently would help ID perpetrators.
Chip & PRINT cards could even be used for purchasing goods via the Internet, or by Mail Order, Phone or Fax.
CNP vendors when checking the card would be made aware that the Card being used was Chip & PRINT. A simple PRINT taken at point of delivery of the goods (on the cardholders insistence) I’m sure would deter may a crook.
What a Chip & PRINT card doesn’t do:
a. It cannot be used at ATM’s (No PIN). Don’t despair you can use Chip & PRINT debit cards to get cash back from certain retailers.
(Using a credit card at an ATM is an expensive way of getting cash, but this doesn’t seem to bother crooks – you can deny them the pleasure).
b. It wouldn’t have any effect against services being purchased online, i.e. anything that is downloaded onto a computer – movies, music etc.
c. It wouldn’t deter funds disappearing out of your account into a dodgy vendors.
As of 1st of April this year cardholders in England & Wales report card fraud to their card issuer and not the police. Chip & PRINT or indeed Magstrip and PRINT cards furnish POLICE with the forensic evidence they need to apprehend crooks. You can force crooks to show their hand and give the Police the tools they need to do the job.
Notes:
Thumbprint pads are available from many sources. One source can be found here www.freeidprotection.co.uk and then follow the link to Solon (Theft & Fraud Prevention).
Hint: Practice using your print pad before using it on your card.
Hopefully retailers will provide pads at point of sale. The Print system is also a wonderful back-up for retailers if communications fail and cards can’t be checked electronically. Using the old card impression system with PRINTs means retailers can securely continue to accept payment by card.
It’s your choice. Chip & PIN, Chip & Signature or Chip & PRINT and it’s up to the Card Industry to Act and Take this further.
Safer: Pin Number Thief Targets Women.
Deterrent: Not 1 single case of Card or Cheque Fraud in 5 years.
Theif Taker Value: The fraudster in question got 3 months.
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Comments
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Interesting. I want to look further into this before asking further questions!
On a side note, do you know what happened about the idea of electronic signing, similar to some parcel delivery companies? I heard about this before chip and pin, and the idea was your signature would be strored, then checked against electronically for style, size, pressure applied etc?0 -
Interesting. I want to look further into this before asking further questions!
On a side note, do you know what happened about the idea of electronic signing, similar to some parcel delivery companies? I heard about this before chip and pin, and the idea was your signature would be strored, then checked against electronically for style, size, pressure applied etc?
I can only guess that it was expense and real and false rejection/acceptance rates.0 -
Sorry James; this is a really stupid idea, primarily, because it might actually work ! The banks won't touch this with a bargepole.
Some years ago I changed my credit card to the National & Provincial Building Society (I think they were called) because their cards carried your photo and signature IN the card. Now I know photos aren't perfect, but I am 6ft, white, male with a beard; now if my card was presented by a clean shaven, vertically challenged, Afro-Caribbean female even the dimmest shop assistant might have an inkling that this wasn't quite right !
N & P was taken over by one of the 'big boys' who then promptly issued their own 'photofree' cards instead. At around the same time one of the big Scottish banks withdrew their photo credit cards, despite having previously trumpeted a massive fall in their card fraud figures !
Now call me cynical if you like, but I have long been convinced that the banks actually like a degree of fraud, that they can control. The introduction of Chip & Pin was not so much to reduce fraud but to enable the banks to offload any excessive fraud onto the retailers.0 -
Pre Chip & PIN days I too had a CSMA card with my photo. I used it overseas all the time and never had to carry my passport.
But hold on, a card with your photo, that can't be cloned and even if it is, when used, the user (whoever they are) submits their print.
Perhaps a money saving tip that could save every man, woman and child anything between £70 and £100?0 -
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Current Fraud Prevention Tips
As a victim of card fraud the highest amount that you are liable for is £50, however if you have acted fraudulently or without reasonable care you will be liable for all the losses. See the protecting your accounts section in the Banking Code for details of how you are protected.
Is there anything more responsible than having a Chip & PRINT Card?0 -
Seriously, I think this is a fair idea. I think, legally, your signature is still your "mark"; ie: an 'X' (as in days of old) if you desire, so therefore a thumbprint should be quite acceptable.
To take it a step further, if your print was printed into the card (as the photo used to be), when you supply your print at the point of sale this could then be compared electronically, using an electronic reader, with the print on your card.
I'm now going to open the ID card "can of worms" !
I would have no objection whatsoever to my fingerprint being stored on a bank card, or even by my bank under strict DPA controls. I used to carry an ID card whilst I was in the Navy, I use my photo driving licence as ID on occasions; both were/are useful for this.
What I do object to, MOST STRONGLY, is a Government ID card (entitlement card, or whatever they are proposing to call it this week !) where every single piece of data on you can be 'hoovered up' and stored on this card's data base.
All a future Government has to do is pass a Law to require all your bank/card transactions to be fed into this, all your oyster card movements, all your Tesco Club card transactions, all your movements from the road charging system, etc, etc, etc.
Far fetched ? It wasn't that many years ago that if you had suggested that there would be over 4 MILLION CCTV cameras watching you pick your nose and scratch your bum, you would have been laughed at !0 -
[quote=moonrakerz;5545353]Seriously, I think this is a fair idea. I think, legally, your signature is still your "mark"; ie: an 'X' (as in days of old) if you desire, so therefore a thumbprint should be quite acceptable.
To take it a step further, if your print was printed into the card (as the photo used to be), when you supply your print at the point of sale this could then be compared electronically, using an electronic reader, with the print on your card.
The essence of what I'm doing and have been for 2 years now is that it changes nothing. Transaction slips are retained by retailers (no database of prints) for the required time as per their banks insturctions.
What I suggest changes very little too. All you're doing is using the Chip and Magsript as a cover vehicle to instruct retailers that the cardholder has pre-agreed to PRINT. I bet it would catch out a good few crooks.
The only problem I have with any other system is risk v costs, and what I suggests costs peanuts. (Chip & PIN an estimated £1.1 Billion and that was before they hit problems).
(((How may days scale did you manage for loss of Navy ID card??)))0 -
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