Does the bank know how my credit card was compromised ?

brianposter

My credit card was compromised recently, so I rang the banks fraud department, hoping to get some information about how it might have happened. All they would say was that the money had been refunded and that I need do nothing further.
I was surprised to find that they did not suggest changing passwords, checking my computer for viruses or considering any other security measures.
Does this mean that the bank is fairly sure that they know how my card was compromised ?

DCFC79

brianposter wrote: »

My credit card was compromised recently, so I rang the banks fraud department, hoping to get some information about how it might have happened. All they would say was that the money had been refunded and that I need do nothing further.
I was surprised to find that they did not suggest changing passwords, checking my computer for viruses or considering any other security measures.
Does this mean that the bank is fairly sure that they know how my card was compromised ?

Maybe, have you used it anywhere different eg a petrol station ?

2e0arr

brianposter wrote: »

My credit card was compromised recently, so I rang the banks fraud department, hoping to get some information about how it might have happened. All they would say was that the money had been refunded and that I need do nothing further.
I was surprised to find that they did not suggest changing passwords, checking my computer for viruses or considering any other security measures.
Does this mean that the bank is fairly sure that they know how my card was compromised ?

How was it compromised please ?
what did your statement say about the compromise ?

what was bought and from whom please ?

spadoosh

Its not that they know or dont know. They just dont care.

Fraud is seen as part and parcel of banking. Our laws are aimed at protecting the consumer so in the event of fraud, providing youve not been an absolute fool, they have to pay you back.

From that theres just no point in investigating. It will be more expensive for them. Theyll just pass it on to police and take the hit of paying out for it because its already been costed in to the cost of the goods (the interest rate people pay).

born_again

spadoosh wrote: »

Its not that they know or dont know. They just dont care.

From that theres just no point in investigating. It will be more expensive for them. Theyll just pass it on to police and take the hit of paying out for it because its already been costed in to the cost of the goods (the interest rate people pay).

They do care...
They will find out where and when it happened. Just as a customer they are never told. Police & retailer are then informed.
They actually claim it back from the retailer.

As to OP.
Just move on and forget about it.
Card compromise is more likely to happen at a retailer you have physically visited or a online retailer that has been compromised.
No point in running computer scans for this type of fraud.

spadoosh

born_again wrote: »

They do care...
They will find out where and when it happened. Just as a customer they are never told. Police & retailer are then informed.
They actually claim it back from the retailer.

As to OP.
Just move on and forget about it.
Card compromise is more likely to happen at a retailer you have physically visited or a online retailer that has been compromised.
No point in running computer scans for this type of fraud.

The Dedicated Card and Payment Crime Unit secured 48 convictions in 2018.

2.6 million fraudulent transactions that year.

brianposter

born_again wrote: »

As to OP.
Just move on and forget about it.
Card compromise is more likely to happen at a retailer you have physically visited or a online retailer that has been compromised.

Given that I only use my card for a few transactions which are fairly repetitive, that seems to be much the same as telling me that the compromise is likely to happen again.
I would actually like to ensure that the problem is not repeated.

[Deleted User]

Have a look at your own security. That's the best action you can take.

born_again

brianposter wrote: »

Given that I only use my card for a few transactions which are fairly repetitive, that seems to be much the same as telling me that the compromise is likely to happen again.
I would actually like to ensure that the problem is not repeated.

Lets put it like this. You only have to use your card once where someone is taking card details for it to be compromised. (think staff member stealing a till roll, as it has full card no on retailer side).
So no matter how careful you are as a card user, it can happen and there is little/nothing you can do to stop it.

brianposter

born_again wrote: »

Lets put it like this. You only have to use your card once where someone is taking card details for it to be compromised. (think staff member stealing a till roll, as it has full card no on retailer side).
So no matter how careful you are as a card user, it can happen and there is little/nothing you can do to stop it.

Obscure the CVV on the card ?

eddddy

brianposter wrote: »

My credit card was compromised recently, so I rang the banks fraud department, hoping to get some information about how it might have happened.

When I asked a customer services agent how my card was compromised, she said that information wasn't accessible to her, so she couldn't tell me even if she wanted to.

However, she explained a 'typical scenario'...

• A card is used on an online retailers website
• The retailer's website is hacked and card details are stolen
• The retailer provides a list of the all card details that were stolen
• The relevant banks cancel all those cards

In my case, no fraudulent transactions appeared on my account at any stage - so maybe my card was cancelled before its details were sold on by the hackers.