Is it safe to give bank card number and 3 digit card security code on telephone?

p00hsticks

GingerFurball wrote: »

How exactly are the bank meant to know how it's happened?

If a fraudulent payment occurs then it's because someone knows your card details. Quite how you expect the bank to know how this has happened is beyond me.

Most banks these days have some sort of analysis to flag up unusual activity on accounts and to query with the cardholder if it might be fraudulent.

A couple of years ago, Nationwide phoned my partner who had POA to handle his elderly housebound mothers account because they had picked up that a number of fraudulent activities involving hotels in Italy had been flagged, when the card was only ever used to withdraw cash from the local branch. They removed the transactions when he confirmed that she hadn't left the country (or indeed the house).

RG2015

GingerFurball wrote: »

How exactly are the bank meant to know how it's happened?

If a fraudulent payment occurs then it's because someone knows your card details. Quite how you expect the bank to know how this has happened is beyond me.

The OP stated that their bank would not explain how the fraud happened. I was merely confirming that my bank also gave me no explanation. However, I believe that the bank will know more about how this has happened but rightly do not share this with the customer.

I assume that the bank will know where the card was used or the IP address if it was online. They should also know if the CVV was given to an online merchant. They will also know about other suspicious activity on the card at or about the same time. They would be able to build up a picture of the fraud. They will use this information to build up evidence to help them and also Action Fraud to improve anti fraud measures based on actual activities.

I cannot believe that the banks have no idea at all about how this has happened.