Stolen Credit Card Question

MrRedundant

chattychappy wrote: »

That's fairly typical. They probably don't see why they should and to do so might (in their simple eyes) compromise security even more. It's all a bit like "spooks" on TV, "need to know basis" and they could tell you but then they'd have to kill you. Avoiding bad PR's probably got something to do with it also (especially if staff fraud is involved).

What a load of crap.

Yes banks arent going to publically announce how to get round security systems in place but also in the majority of cases the bank will not know what has happened. There is so many ways it can happen and just because someone has a virus scan and shreds their statements doesnt make them immune.

As for the OP's case. Lets hope some of the facts are wrong as if a replacement card has been sent and no pin and then used with the pin then the only option is either the OP was neglient with the pin or someone in the household with access to the pin is responsible.

chattychappy

MrRedundant wrote: »

What a load of crap.

Well, since you are so expert in these matters perhaps you can back up what you say.

Sometimes they know, sometimes they won't. But they will never say. Simple as that. It's need to know.

MrRedundant

chattychappy wrote: »

Well, since you are so expert in these matters perhaps you can back up what you say.

Sometimes they know, sometimes they won't. But they will never say. Simple as that. It's need to know.

It's wrong. I used to do that job and if the bank knew as long as it wasnt contrary to their interests they would share. They know in very few cases the details though and in most case make little effort to find out.

The banks are interested in patterns and loss prevention; not working out how someones credit card details got used for 1k on an apple site. Its peanuts to them and money and resources better spent on improving their fraud detection and prevention systems.

VictimOfImpersonation

MrRedundant, I do not see your contributions as particularly useful.

I take it you worked in the fraud department of just one bank. Taken as a whole, I found that the UK credit card industry do actively obstruct enquiries about how the fraud occurred. Worse than that, one of the CRAs at least was also obstructive when I asked for details of how my credit report was fraudulently obtained from them online as an essential prelude to attacking my credit card accounts. (I had never used that CRA myself and a new account was set up fraudulently). They refused to co-operate.

This type of crime has quickly become rife and no-one is controlling it except organised criminal gangs. The banks have a cosy agreement with the government that they are the victims not us. Consequently the police do not investigate at all. That's a complete joke on us, because of course we all pay via higher charges and interest (those of us that incur them) and through other poorly performing banking products and poor banking customer service as well as poor policing because the police continually congratulate themselves that "crime" is falling by which they mean horsestealing or something I think.

My own view is that CC fraudsters in 2010 should be mercilessly hunted down like horsestealers of 150 years ago.

chattychappy

VictimOfImpersonation wrote: »

I take it you worked in the fraud department of just one bank.

I think we'd better wait for Mr Redundant to say what his job was. If he is in the business, then I'm sure people here would be very interested in what he has to say beyond saying that someone's post is a load of crap.

Since it's become an issue what someone's job is, I think I mentioned elsewhere that I'm a lawyer working in compliance (or rather non-compliance). I deal with FSA regs and enforcement, SFO and financial crime generally, in particular international fraud (money laundering etc.)

[Disclaimer: can't give legal advice here]

VictimOfImpersonation

Very interesting profile chattychappy. Does that mean you work for the Financial Services Authority, or a bank? I mean are we talking poacher or gamekeeper?

chattychappy

VictimOfImpersonation wrote: »

Very interesting profile chattychappy. Does that mean you work for the Financial Services Authority, or a bank? I mean are we talking poacher or gamekeeper?

Thanks: no, no, and gamekeeper.

But that's as far as I'm going. (And after 1500 posts, the furthest I've gone, I wrote those other posts on the basis of not saying much about my day job so don't want to start worrying now!) Hope that's OK.