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February 11, 2007
Reducing Fraud Risk
prevent fraud.
Heather, I once worked in the fraud department of a major Aussie credit card bank. We saw 9 frauds a day and not one hit the news. On eBay 75,000 new people sign up every day. Sure there’s frauds but there’s steps you can take to reduce the risk too.
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Posted on February 11, 2007 12:42 AM by Financ38.
Filed in Reports by Consumers under financial products.
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Comments
They don't need Hi Tech - Just a typical card owner.
Let's pertend I'm the service attendant.
You have a common variety of credit card.
You hand me your credit card to pay for your purchase, I swipe it and go through the usual process, hand you your card back and you leave.
Next purchase, elsewhere, you do the same thing. To you embarrassment, the transaction is declined. You check your card and it's not your card at all - same variety but different name.
As Attendant I collected old credit cards and did a switcheroo. I even have a copy of your signature to clean out your account with - thankyou!
How often do you check that you really get YOUR credit card back?
Hope this helps
Regards
Mimenta
http://www.mimenta.com/mimentum/
Posted by: Mimenta at February 14, 2007 11:59 PM
