Help - Victim of Credit Card Fraud

James

cexb wrote: »

Thanks James. I'm looking into that chip and signature now. Not entirely clear on how it works but if its more secure then I'm gonna be using it!!

You can always try Chip & PRINT.

The arfticle is 12.20 secs into the Broadcast:

Click here.

rapj

Has anyone had the same experience as me, I had a debit card stolen and
the bank is refusing to repay any of the withdrawn money. They say that
the correct pin was used to make the withdrawals, yet I have never ever
written the pin number down. I am sure these thieves have a way of
finding out the pin number but the banks are not admitting it. I had just arrived at Valencia Airport when the card was stolen so the thieves had no way of knowing the pin number. The bank states that the pin number was entered correctly first time at the ATM machine. How did they Know!!

James

rapj, you are not alone. This is becoming a major problem.

Watchdog covered this earlier this year

You can view their findings in this You Tube Video. Click here.

Chect your Private Messages

rapwend

Thanks for that information James that link to You Tube is very interesting it proves I am not alone

rapwend

Just spotted this in "thisismoney.co.uk"


A fraud expert at Cambridge University, Prof Ross Anderson, says there are various ways a Pin can be extracted from a chip and Pin card, but the 'Yescard' scam is the most widely used.
He said: 'Your Pin is stored in the chip. It's supposedly protected by logic that limits the number of attempts you can make to guess it. However, there have been repeated reports from credible witnesses of cards being used when the Pin could not have been compromised.
'One possible modus operandi is the Yescard; a card to which you copy the details from a stolen card, but that will accept any Pin. These have been used in France and I've suspected for some time that they have been introduced in the UK.
'There have been more technical tricks in the past to extract Pins from cards, but the Yescard is generally a more plausible hypothesis.'