Credit Card Security Code

DCFC79

OP can I suggest you give us more info like the website.

I understnad the friend bought an item from a website and was charged more than what he thought and teh account has been cleaned out.

dzug1

Historyfanatic wrote: »

It most certainly is a serious question! We all know, I assume, that banks and credit card companies will wriggle furiously to get out of their legal obligations despite rulings by the Ombudsman.
Does anyone know the law on this?

I don't know that and actually doubt if it's true


Law on what???

DCFC79

dzug1 wrote: »

I don't know that and actually doubt if it's true


Law on what???

No I don't think its true, they may well decide not to pay out if the card issuer/bank find a flaw or a hole in the story told by the card user.

MPH80

Here's the problem OP ...

if your friend emailed his credit card details to a random stranger for an eBay purchase or something ... He's probably liable. It'd be no different if he handed his card and pin to you for a one of purchase and you went on a spending spree.

If your friend entered his details into a legitimate website and they stored the cvv for some reason and thus his details were compromised ... They are breaking PCI compliance and they can be found liable.

But from what you've posted ... We just don't know the circumstances.

chattychappy

Historyfanatic wrote: »

I assume, that banks and credit card companies will wriggle furiously to get out of their legal obligations despite rulings by the Ombudsman.
Does anyone know the law on this?

Yes. The law is you must follow your legal obligations.

pacontracting

Definitely a troll but for information.

The CVV (Card Verification Value) can also be called a CSC (Card Security Code). Unfortunately, this phrase isn't used widely in UK banking and would be confused with the PIN.

There are other names for this code too but if anyone is contacting a bank about this number, best to use CVV as the description so as to avoid confusion.

Biggles

Historyfanatic wrote: »

Can I please have some helpful advice.

Get the full, correct, facts. You don't have them or, if you do, you haven't told us.

runforlife

Historyfanatic wrote: »

It most certainly is a serious question! We all know, I assume, that banks and credit card companies will wriggle furiously to get out of their legal obligations despite rulings by the Ombudsman.
Does anyone know the law on this?

When I had an unauthorised iTunes withdrawal of £90 my bank held the transaction in question for about 3 days and then refunded in full. So no, they didn't wriggle out of their responsibilities.

RichL74

I think you've scared him off.

Historyfanatic

No, I just got bored with the endless stream of unhelpful comments. For those of you (and there seem to be a surprising number) who believe that banks always obey the law, google chip & pin fraud. The first article is about how, despite a direct instruction by the Financial Services Ombudsman, banks still tried to evade and even deny their responsibilities under the law.
This particular case involves the security code, not the PIN, but I cannot see any difference in principle. PINs are used in transactions in person and Codes are used in online or telephone transactions. I've given my chum some helpful articles to look at and recommended that he challenges his bank manager's decision.