New way for anyone to highjack your credit card number??

[PhilT]

This is a bit scary! :P
http://www.forbiddenknowledgetv.com/...e-robbery.html

[oshunluvr]

Re: New way for anyone to highjack your credit card number??

While I appreciate the concern in theory, in practice I fail to see why it would scare anyone other than a credit card company.

Most, I believe, states in this country have laws that limit the consumers' liability to $50 if you lose your card. If someone copies your card electronically this way, they'd not be able to achieve much without a fake ID, your address, and the 3 digit number off the back of your card.

[GreyGeek]

Re: New way for anyone to highjack your credit card number??

Don't worry, there's an easy fix. Gets some tin foil (NOT Aluminum foil) and wrap your CC cards in the Tin Foil. Tin is dia-magnetic and as such it creates a "Faraday Cage" around your credit cards so no EMF can get in to scan the mag strip on your cards. Or, if you can get a hold of a piece of Reflectix, you can use it. IF you have $50 to shell out you can get the best: a woven stainless steel sleeve.

You will see a LOT of ads for wallet and sleeve rfid reflectors made of Aluminum, but Aluminum only attenuates the rfid, it does not block it. People using Aluminum reflectors are walking around dumb, fat and happy thinking they are protected when, in fact, they are not. Remind you of something?

BTW, these devices ARE a threat to you because your CC# can be burned onto a blank card (or overwrite a canceled one), which can then be used to purchase stuff. How many times have you given the clerk your card to scan, or you scan it yourself, and no request for ID or 3 digit code is requested? Too often to count.

[PhilT]

Re: New way for anyone to highjack your credit card number??

Hi GG. Good advice. Already thought of that and done it! (laminated a piece using a normal document laminator).

[oshunluvr]

Re: New way for anyone to highjack your credit card number??

Yes, but the consumer is not responsible for fraud. I admit there might be some hassle involved, like writing a letter to your cc company

If a clerk fails to ask for ID or doesn't follow the credit card company procedures, the store is liable for the fraud.

IMO, this is another holiday news story that is really much ado about nothing. Once again, the sky is falling.

[woodsmoke]

Re: New way for anyone to highjack your credit card number??

I always knew that the expertise I developed to protect the family pets would come be useful in other ways.



However, to be serious, many of the fuel stations here, if one uses a card, has a button for which kind of card, and if a credit card you can insert it and then go in to buy some coffee or some small thing, sign the slip and out you go. The risk being of course that they won't ask to see the card, however, one usually only has to flash the card that has your pic or something on it, so one could easily use the card that was made from your number outside at the pump, then flash a REAL card with a pic on it, while in the wallet, and sign the card and leave. Then it would be up to the cashier to check the signature against the name on the card, but if it was a rush hour thing, most just give it a cursory look and that is it.

Then the problem would be, as stated above, filling out paperwork etc.

woodsmoke

[GreyGeek]

Re: New way for anyone to highjack your credit card number??

Well, in some circumstances the sky might fall.

Although Federal Law limits the consumer's liability to credit card fraud to $50, if reported in a timely mannner, the losses by the banks, the merchants, and eventually the consumer can be huge. Fraud raises the cost for doing business for EVERYONE.

For example, IF the consumer is unaware of the fraud and/or does not report it in a timely manner they can be held liable. The Internet is full of such horror stories.

But, let's say the consumer is alert and does report it in a timely manner. The consumer can still spend as much as 130 hours unraveling the problems and restoring their reputation.

The consumer may be subject to days or months of debt collector calls from as many merchants as were defrauded. Even though they are not responsible for debts created by CC fraud the debt collectors don't know their past due account portfolio is the result of fraud until the consumer supplies a signed affidavit. Depending on the number of debt collectors calling they may have to do that many times. Fees are involved. Even though the consumer is right and justified in refusing the demands for payment by a debt collector, that doesn't stop the debt collector from filing a report with the three credit reporting agencies. The next time the consumer applies for or attempts to use credit, get loans, mortages, etcl..., they are rejected. You may be asked by banks and credit grantors to fill out and notarize fraud affidavits, which could become costly.

Then, there are the lawsuits: banks, creditors and others who have lost money because of debts accumulated by thieves may try to sue victims of identity theft. Sometimes victims of identity theft are wrongfully accused of crimes committed by the impostor. If a civil judgment has been entered in your name for actions taken by your impostor, contact the court where the judgment was entered and report that you are a victim of identity theft. The victim will need to pay for an attorney out of their own pocket or risk losing in court and/or being sent to prison.


Then, there is the possibility that the credit card is a "Debit/Credit" (ATM) card from your bank. The thief takes the daily maximum, $300. He's a crook, probably a drugger or alcoholic, and snorts, injects or drinks up that $300 within hours. He's not employed and lives off charity. How are you going to get that $300 back, even if you know who took it? Take him to court and sue him? That will merely increase your total loss. "If your ATM card has been stolen or compromised immediate notification to the bank, upon review of your account statement, will limit your losses dramatically due to the Electronic Fund Transfer Act (15 U.S.C. § 1666, 12 CFR Part 205), or EFTA. The time limits for action under EFTA are severely constrained: notice to bank/financial institution within 2 business days from date of receipt of your statement (your maximum exposure is $50); notice within 2-60 business days, maximum exposure is $500; notice after 61 business days, you face unlimited exposure-- no protections under the EFTA, although other protections may be available."


Here is some good advice:
http://www.ftc.gov/bcp/edu/pubs/cons...dit/cre07.shtm
http://yourscoops.com/2010/08/19/cre...rs-advice-nsw/
http://www.ehow.com/facts_6870697_cr...-recovery.html

Here are some good contact numbers:

The Fair Credit Reporting Act (15 U.S.C. §§ 1681-1682t) allows such "100 word" statements, as well as mandating that the Credit Reporting Bureaus review and investigate your allegations of error and return a report within 30 days.

For Equifax, their fraud report # is (800) 525-6285; their credit order report # is (800) 685-1111; their web site is http://www.equifax.com . Or write: P.O. Box 740250, Atlanta, GA 30374-0250. Order copy of report ($8 in most states): P.O. Box 740241, Atlanta, GA 30374-0241, or ph # 1-800-997-2493.

For Experian, their fraud report # is (888) EXPERIAN (397-3742); their credit order report # is the same. Their web site is http://www.experian.com . Or write: P.O. Box 949, Allen, TX 75013. Order copy of report ($8 in most states): P.O. Box 2104, Allen TX 75013.

For Trans Union, their fraud report # is (800) 680-7289; their credit order report # is (800) 916-8800; their web site is http://www.tuc.com . Or write: P.O. Box 6790, Fullerton, CA 92634. Order copy of report ($8 in most states): P.O. Box 390, Springfield, PA 19064.
...
Notify the local Postal Inspector if you suspect an identity thief has filed a change of your address with the post office or has used the mail to commit credit or bank fraud. (Call the local Postmaster to obtain the phone number, 1-800-275-8777).
...
Be aware that these measures may not entirely stop new fraudulent accounts from being opened by the impostor. Ask the credit bureaus in writing to provide you with free copies every few months so you can monitor your credit report.
...
Call the Social Security Administration (SSA) to report fraudulent use of your Social Security number. Report fraud to 1-800-269-0271. As a last resort, you might want to change your number.. The SSA will only change it if you fit their fraud victim criteria. Obtain Social Security Pub 05-10064 "When Someone Misuses Your Social Security Number". Also order a copy of your Earnings and Benefits Statement and check it for accuracy; Call (800) 772-1213. (Web http://www.ssa.gov )
...
The Federal Trade Commission is the federal clearinghouse for consumer complaints about identity theft. The information you provide can help the Commission and other law enforcement agencies track, investigate and prosecute identity thieves. You can file a complaint with the FTC by contacting the Consumer Response Center by phone: toll free 877-FTC-HELP (382-4357); TDD:202-326-2502; by mail: Consumer Response Center, Federal Trade Commission, 600 Pennsylvania Ave, NW, Washington, DC 20580; or through the Internet, using the online complaint form. Although the Commission cannot resolve individual problems for consumers, it can act against a company if it sees a pattern of possible law violations. The FTC publishes free brochures on many consumer issues. For a complete list of publications, write for Best Sellers, Consumer Response Center, Federal Trade Commission 600 Pennsylvania Ave, NW, Washington, D.C. 20580; or call toll free (877) FTC-HELP (382-4357), TDD (202) 326-2502. (Web: http://www.ftc.gov)

Identity theft can even be a nightmare for lawyers.