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Credit Card Fraud

The latest issue of Reader's Digest has a nice article on Credit Card fraud. The article starts off like this :

It's a pleasant Friday afternoon at a sprawling department store in central Mumbai. But I'm uneasy. It's a crime to use another person's credit card, and here I am, a man, using a woman's card with her photograph on it.

I hand my four purchases to the cashier who looks bored as he holds a scanner over their bar-coded price tags. He then takes the credit card I proffer him and swipes it through an electronic data capture machine or EDC, which okays the card in seconds and whirs out two transaction slips.

Avoiding any eye contact with the cashier, I sign the top slip and hand both back. He returns the card, a bill for Rs.4185 and my copy of the slip. Not once did he look at the card, ler alone the woman's photo on it. Not did he compare my signature on the slips to the one on the card.

Heh. That so happens all the time. No one verifies the stuff on the card.


( 13 comments — Leave a comment )
(Deleted comment)
May. 16th, 2005 05:23 pm (UTC)
The biggest advantage you guys in the US have is you're liable for the first $50 that's spent on a stolen card. After that everything is paid by the bank if you're not the one using the card. No protection of that sort in India.

And no, the article goes onto say that Banks here demand the money from you!! And there are cases where people have ended up paying for goods brought off a stolen card!!
May. 16th, 2005 05:26 pm (UTC)
I used to write "Please ask for ID" instead of signing the back of the card, but that is not an accepted practice anymore :-( Besides, if no one cares to check the signature, it doesn't work.
May. 16th, 2005 05:34 pm (UTC)
Not once has anyone bothered to check signatures on my card...or my parents...in fact I've not seen anyone checking the signature on a CC here at all...
May. 16th, 2005 05:52 pm (UTC)
I once got away by drawing a smily face on the CC slip :)
May. 17th, 2005 12:28 pm (UTC)
May. 16th, 2005 06:06 pm (UTC)
I have two bills falsely (read: doubly) charged to me and I dont have time to even draft an e-mail to them ! :-(

I have lost thousand bux ! :-(


PS: I had time to write this comment ! :-(
May. 16th, 2005 06:47 pm (UTC)
L O S E R :)
(Deleted comment)
May. 17th, 2005 06:56 am (UTC)
Umm no, they're plain stupid.

Clever ones caught these people...but they got caught only 5 out of 20 times. And everywhere they got caught, the shop had prior experience of being swindled this way..and hence they were careful.
May. 17th, 2005 12:27 pm (UTC)
Hmm, here in Sweden we have have a 4 digit PIN code just like the one with debit card in India and once they/we swap the credit card, we need to digitally verify ourselves. In case of a negative match, we are allowed to sign the slip but only with an ID showing our Person-number (aka SSN in US). And additionally on the pay slips, they get only 4/8 digits of our credit card. Its quite safe to shop with credit cards in Sweden, ( I thought so until!) I read an article recently which said that people use their sophisticated cell phones to take the picture of your credit card as you are holding it in your hand when standing in queue for the payment :) and make use of it online.
May. 17th, 2005 05:15 pm (UTC)
The article also said that the Pin system is way too costly to be implemented in India now....
May. 17th, 2005 04:48 pm (UTC)
Gone are the days when the "shop-keeper" used to verify the signatures on the card and the cc slip.
There was a time long long before the "swipe the card and punch the amount" method,...
I always wanted to operate those old machines. ... insert the bank slip, place the card ,... and then use all ur might to transfer the cc impression on to the paper ....Phew .. all said and done ... five mins down the drain... and a goldspot down the food drain ...
after doing all this exercise .. he used to have time to Veri-fy the signatures ...
ofcourse the number of guys[and gals] using credit cards was a tiny fraction.
Nowadays, with almost everyone owning 2 - 3 credit cards ... and an average transaction time reduced to 5- 8 secs ... to minimise the maximum waiting time ..
i guess .. we need to give them some "credit."
May. 17th, 2005 04:57 pm (UTC)
Ohhh yeah!! i remember those days too! LOL Awesome instrument that was hehe :)

Seems like ages ago...it would have been what? 8 years ago?
May. 17th, 2005 05:05 pm (UTC)
maybe ..
but a couple of years ago, when i had been to gangtok ... had the rare oppurtunity to see those machines ...
theer are places where those oldies are still used .. .
( 13 comments — Leave a comment )

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