CC fraud madness

Savvysaver

I have just had our cards stopped because the bank's systems detected a fraudulant online payment of £3. So we now have no cards for over Christmas & NY. Brilliant!

Apparently all the fraudster got hold of was the 16 digit no., the expiry date and the 3 digit security code, i.e. information available to any random waitress or shop assistant. With this they can cause me two weeks of aggravation & accounts to change and the bank the cost of a new card.

Why can't I instruct the bank not to allow any payments which are not either PIN validated or Verified by Visa? Why can any random fraudster cause so much trouble so easily?

stephane_2

Would you rather wait a few days for a new secured card....or would you rather have your account emptied...!! For me the answer is simple

jonesMUFCforever

................And a very good reason to have a spare card in the drawer in case of emergencies.

Wintermute

It's extremely inconvenient, but it's hardly madness, if fraudulent activity was detected on any of my accounts I'd be upset if they did't block my cards.

Savvysaver wrote: »

Why can't I instruct the bank not to allow any payments which are not either PIN validated or Verified by Visa? Why can any random fraudster cause so much trouble so easily?

The majority of sites don't have Verified by Visa, even giants like Amazon don't require it and Verify by Visa's not exactly secure when all you need to do a password reset is your DoB.

NekoZombie

Agreed! £3 is the start of a slippery slope - that £3 transaction was just to check the card was working. Then follows a raft of expenditure until suddenly you're at your credit limit - at least that's what happened to me. Count yourself as having a lucky escape.

chattychappy

stephane wrote: »

Would you rather wait a few days for a new secured card....or would you rather have your account emptied...!! For me the answer is simple

It wouldn't be the OP's account that is emptied. Banks are liable for unauthorised transactions - so it's a simple answer for them - play safe, regardless of the inconvenience to cardholders.

stephane_2

chattychappy wrote: »

It wouldn't be the OP's account that is emptied. Banks are liable for unauthorised transactions - so it's a simple answer for them - play safe, regardless of the inconvenience to cardholders.

Still...the bank would not give back the money within 24hrs....the account could still be emptied during a period well passed Christmas and New Year.....

NekoZombie

stephane wrote: »

Still...the bank would not give back the money within 24hrs....the account could still be emptied during a period well passed Christmas and New Year.....

When it happened to me (they took over £1k from my account) the bank returned it within 24 hours. I was stunned because I'd expected it to take much longer....