Credit Card Fraud

The Vault Dweller

The Vault Dweller

always looking for water.
So I'm online while eating lunch today and get an email from my credit card company about suspected fraudulent activity.

I called them immediately and they said they had suspended my card after a transaction was made for over $400 in India. I've never been to or know anyone from there so this was indeed suspicious.

They said that transaction didn't go through since it was out of the country with no record of that sort of activity and with my permission they would deactivate the card number as well as issue me a new card with a different number.

I'm not worried or even mad, but I'm just curious how often this happens. I've been using credit for about three years now and this is the first that's happened to me.

I'd also REALLY like to know what they attempted to spend my money on. Also how they got my number. Probably one of my online purchases was processed by a company in India (lots of information technologies work out of there even calling customer service in the USA can get you talking to someone from there) and an employee took the number.

:? ,
The Vault Dweller
 
I'd also REALLY like to know what they attempted to spend my money on. Also how they got my number. Probably one of my online purchases was processed by a company in India (lots of information technologies work out of there even calling customer service in the USA can get you talking to someone from there) and an employee took the number.
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That's the most benign explanation, and also the most likely one. I have had a similarly "suspicious" transaction to an account in Luxembourg. Turned it was just my Skype subscription; for some reason, all Skype online payments go through a Luxembourg-based intermediary.
 
The Vault Dweller said:
So I'm online while eating lunch today and get an email from my credit card company about suspected fraudulent activity.

I called them immediately and they said they had suspended my card after a transaction was made for over $400 in India. I've never been to or know anyone from there so this was indeed suspicious.

They said that transaction didn't go through since it was out of the country with no record of that sort of activity and with my permission they would deactivate the card number as well as issue me a new card with a different number.

I'm not worried or even mad, but I'm just curious how often this happens. I've been using credit for about three years now and this is the first that's happened to me.

I'd also REALLY like to know what they attempted to spend my money on. Also how they got my number. Probably one of my online purchases was processed by a company in India (lots of information technologies work out of there even calling customer service in the USA can get you talking to someone from there) and an employee took the number.

:? ,
The Vault Dweller
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The same thing happened to me twice. This dude was in Africa though. For some reason I am reminded of the John Conner ATM scene from Terminator 2....
 
I knew a guy who lost $80,000 through a credit card theft, so my question is: Why would anyone want a credit card limit of $80,000+? Silly bastard. The card details were stolen in Hong Kong, and spent in New York, he obviously wasn't in New York at the time, so the bank had to refund the money. :roll:
 
I don't know how often it happens, but it happened to some chick I knew -- she thinks these indians at a gas station she used stole her #.

it also happened a couple times to a friend of mine -- most recently, several hundred dollar purchases were rung up at home depot in a few different us cities, totaling 9-10k, I think it was.

I think once somebody steals your number, and it could be all kinds of people in various retail positions, then it can hit the net and end up anywhere.
or maybe some indian dude stole it and passed it on to his friends and family over there.
 
The Vault Dweller said:
So I'm online while eating lunch today and get an email from my credit card company about suspected fraudulent activity.

I called them immediately and they said they had suspended my card after a transaction was made for over $400 in India. I've never been to or know anyone from there so this was indeed suspicious.

They said that transaction didn't go through since it was out of the country with no record of that sort of activity and with my permission they would deactivate the card number as well as issue me a new card with a different number.
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Good your bank clocked onto it right away, I have had it happen to me while making a legitimate purchase in a shop 30 seconds after transaction declined my bank called my mobile and then everything was ok.


I'd also REALLY like to know what they attempted to spend my money on. Also how they got my number. Probably one of my online purchases was processed by a company in India (lots of information technologies work out of there even calling customer service in the USA can get you talking to someone from there) and an employee took the number.
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They normally try and buy High value items such as Laptops, TV's, Home appliances etc that they can resell for 2/3 of the normal retail value.
I doubt that the compromise happened at the payment processor, it was probably a carding machine installed in a cash point (ATM), compromised website that you have used. But without investigating your history with that card it's hard to say for certain what happened even then you might not be able to find the source.

Also don't be suppressed if your bank call's for a while and says a attempt was just made in, China, Russia, Africa etc, they will monitor that number for a while and possibly allow a few tiny transactions through (not at your expense) if they are conducting a investigation especially if it's part of a larger issue.

I use one of the prepaid cards when I am using a site or service for the first time, it's a pain in the arse to top up at times an costs a little to top up the card but it's well worth it to keep my details safe and my money where it belongs.
 
Kevin Mitnick was on CSPAN's Book-TV a few months ago to promote his new book. He gave a demonstration of a device small enough to conceal in his sleeve that was able to read credit card information just by being a few inches away. If your card is in your wallet, someone using a similar device doesn't even have to touch you -- all he has to do is swipe his arm near your ass. He did it to a volunteer from the audience.
 
eom said:
.Pixote. said:
Fuck credit cards, just use cash - problem solved. :wink:
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yeah, because that never gets stolen.
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No, but if you walk around with thousands of bucks in your pocket, you're a dick - most purchases don't require a credit card or thousands of bucks. Yet I see people using credit cards to buy everyday stuff - milk and bread, etc. Don't take my word for it, take Warren Buffett's -

"I tell every student class I get, high school students, university students, you know, they'd be better off if they never used credit cards now. Now if you use them and you pay at the end of the month so you don't start revolving, that's another question. But I can't make money if I'm out borrowing, you know, at whatever the rate may be — 12 percent, 14 percent, 16 percent . . . I think if credit cards didn't exist, I think probably the economy would be better off."
 
UniversalWolf said:
Kevin Mitnick was on CSPAN's Book-TV a few months ago to promote his new book. He gave a demonstration of a device small enough to conceal in his sleeve that was able to read credit card information just by being a few inches away. If your card is in your wallet, someone using a similar device doesn't even have to touch you -- all he has to do is swipe his arm near your ass. He did it to a volunteer from the audience.
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maybe I've been misreading dammitboy's intentions all these years.
 
.Pixote. said:
"I tell every student class I get, high school students, university students, you know, they'd be better off if they never used credit cards now. Now if you use them and you pay at the end of the month so you don't start revolving, that's another question. But I can't make money if I'm out borrowing, you know, at whatever the rate may be — 12 percent, 14 percent, 16 percent . . . I think if credit cards didn't exist, I think probably the economy would be better off."
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That doesn't actually have anything to do with your argument. Warren is just advising against getting into credit card debt, not against using credit cards as such.

I use credit cards and debit cards because they are convenient, and because alternative methods of payment - cash and checks - are laughably outdated. If banks ever offer a safer, but equally convenient alternative, such as a reasonable implementation of e-currency that's actually used by someone, I'll happily switch to that.
 
DammitBoy said:
You guys need to cut back on the pay for porn websites.
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I never use porn.

.Pixote. said:
Fuck credit cards, just use cash - problem solved. Wink
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I would have totally agreed with you five years ago. I avoided credit like the plague since I figured it was just an opportunity to get into debt even though I'm very responsible for my money.

Then I got robbed of all my money the day after cashing a paycheck. Now I only use credit and only carry a small amount of cash in case of an emergency.

Sincerely,
The Vault Dweller
 
The Vault Dweller said:
I would have totally agreed with you five years ago. I avoided credit like the plague since I figured it was just an opportunity to get into debt even though I'm very responsible for my money.

Then I got robbed of all my money the day after cashing a paycheck. Now I only use credit and only carry a small amount of cash in case of an emergency.

Sincerely,
The Vault Dweller
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My thoughts exactly :) Also, I agree with Warren there, don't take out more money than you can pay back at the end of the month, set up a reasonable monthly limit and bar internet/telephone/mail based transactions (a good bank should allow this level of control over your card). Set up an SMS/text/mail alert for any transactions above a certain value.
 
The main target of the credit card thieves is not you. Its the retailer they're fooling into giving them goods by using your credit card. You can dispute and win any fraudulent charges against your card and the thieves know that.

So using/having a credit cards is very safe because you have a recourse if your ripped off. However if someone steals your cash, you're plain out of luck unless they are caught with it, which I really doubt would happen.

Its people that use cash that the ones that are punished by paying higher prices. I get points that I exchange for using my card so in the end I pay less. That is why I use mine to pay for every thing.
 
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