Posted on 08/19/2010 9:51:07 AM PDT by davidosborne
Greetings my fellow FReepers. Before anyone complains that this post in "unsourced" let me say that as a recent VICTIM of Credit Card Fraud as well as a law enforcement officer I am very concerned about this epidemic that is hitting our nation HARD ! My main concern about this is....... WHO is paying for it? When a victim of credit card fraud reports unuathorized transactions to their bank they are reimbursed immediately for the unlawful transactions. The bank then becomes the victim, but who reimburses the bank? Is it US the taxpayers? If so what is the DAILY cost of these transactions? Who is tracking this data?
For the past 2 months I was TDY to Fort Knox, KY and while in Kentucky I got a phone call from DISCOVER asking if I had made a charge at a grocery store in OHIO. I told them no and my card was immediately canceled and I was reimbursed for this charge. Important to note is that the fraudulent transaction on my account was done using a physical CARD SWIPE, not a keyed in number, but I had possession of MY card, so the only way that could be possible is if a FAKE PHYSICAL card was made using my credit card account number.
Important to note is that I DID NOT file a police report, and DISCOVER did not request that I do so as a condition of refunding the ammount of the fraudulent transaction. My first day back to work, as a law enforcement officer, after returning from military duty, I personally took 4 reports of credit card fraud. Now these are cases in which the bank REQUESTED that the victim file a report with law enforcement. So you can be sure that the REPORTED cases are only a fraction of the actual cases out there. Have you or someone you know been a victim of credit card fraud? What are we going to do about this?
ping-a-ling for comment?
I’d have to agree. My card’s been hit twice in the past year. Everybody I work with has been hit in the past month too. I can’t believe it hasn’t reached the level that the credit card companies haven’t totally revamped how cards work.
An article in the Austin-Mexican Statesman today is about a couple in NJ woh are victims of credit card fraud, committed by illegals in Texas. The illegals were on a big shopping spree at the Cabelas store, just south of Austin.
We all need to scrutinize every statement (for starters).
And, be aware of ‘where’ we use a CC; if I have to go to a place I don’t know, I prefer to pay cash.
exactly my point? I can only assume that the banks are being reimbursed with “bailout” money.... if so then the taxpayers are FUNDING criminal activity !
As Dave Ramsey would tell you... Cut them UP and cancel them. We did and without them there is no risk.
I just got a call from my bank yesterday. Someone tried to use my debit card to make a $500 purchase at a Publix in Florida. They declined the charge as it was obviously suspicious (I am in Oklahoma) but I still am wondering how they got my card #. I was holding it in my hand while talking to my bank, so they didn’t have my actual card, but I was wondering if maybe they tried to buy a bunch of stuff online. There isn’t a Publix where I live so I don’t know anything about them.
LifeLock has been advertising pretty heavily of late.
BTTT
I like Dave Ramsey ! I prefer to use my credit card for EVERY purchase and aquire “points” I pay my balance off every month to ensure I don’t pay 1 CENT in intrest. :)
I also just read in Readers Digest to be careful of people behind you in checkout lines. They look like they are messing with their cell phones, but they are snapping a picture of your card and possibly you as you enter your pin number.
exactly the same scenario.. over and over
I’ve had problems twice in the last year. In March someone used my visa to buy tires in Spain. I cancelled the card and had a new one reissued. Last month someone charged magazines and games on my card. I cancelled it again. This month they got my wife’s card.
Gee, you’re the LEO...and you’re asking us what to do about a criminal matter?
you got your money from BofA but who paid back BofA ?
You are an exception. I hear people say “airline miles” and all kinds of junk. Cash works just fine for me. I don’t need some “points” or any such stuff, and I don’t pay interest.
Dave would say dump the cards.
I guess the federal govt picks up the tab since banks are insured by the FDIC. The FDIC has a 4 Billion dollar budget. Big waste.
woh=who
Not at all... I know what do with criminals.. what do we do about the COST of this epidemic... or better yet ARE the taxpayers on the hook for the cost or not? That is a much bigger question
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.