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blankseplocked Potential credit card fraud - so much for technology
 
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Zaiyo Modi
Minmatar
Posted - 2010.02.13 08:41:00 - [1]
 

Edited by: Zaiyo Modi on 13/02/2010 09:54:59

Linkage to BBC article

Apparantly (if I understood this correct) anyone can use stolen creditcards or perhaps copied ones, or perhaps altered ones, for purchaces anywhere, without knowing the four digit pin code.

That sounds too easy ugh

UVPhoenix2
Rim Collection RC
Test Alliance Please Ignore
Posted - 2010.02.13 09:19:00 - [2]
 

So what's the problem?

Zaiyo Modi
Minmatar
Posted - 2010.02.13 09:28:00 - [3]
 

For the last year or so in here in Norway, credit card users have had to start using the chip in the creditcard and not swiping the stripe as usual. I am guessing that this does not prevent theft, but perhaps merely adds more data to the transaction so that the banks have a clue to what is happening and (I am now wondering) not really much preventing theft.

I am too ignorant about how it all works, but I am willing to speculate that all the card holders just maybe have to cover the losses incurred by theft :)I guess this could be seen as a problem.

UVPhoenix2
Rim Collection RC
Test Alliance Please Ignore
Posted - 2010.02.13 09:32:00 - [4]
 

Originally by: Zaiyo Modi
For the last year or so in here in Norway, credit card users have had to start using the chip in the creditcard and not swiping the stripe as usual. I am guessing that this does not prevent theft, but perhaps merely adds more data to the transaction so that the banks have a clue to what is happening and (I am now wondering) not really much preventing theft.

I am too ignorant about how it all works, but I am willing to speculate that all the card holders just maybe have to cover the losses incurred by theft :)I guess this could be seen as a problem.


Put card in microwave. Cook for 30. Serves 4.

Mashie Saldana
Minmatar
Veto Corp
Posted - 2010.02.13 15:06:00 - [5]
 

Originally by: Zaiyo Modi
For the last year or so in here in Norway, credit card users have had to start using the chip in the creditcard and not swiping the stripe as usual. I am guessing that this does not prevent theft, but perhaps merely adds more data to the transaction so that the banks have a clue to what is happening and (I am now wondering) not really much preventing theft.

I am too ignorant about how it all works, but I am willing to speculate that all the card holders just maybe have to cover the losses incurred by theft :)I guess this could be seen as a problem.

The magnetic strip on a card is stupidly easy to clone which is why banks are moving away from them. The chip is a lot more difficult to clone (but according to that link now possible to do as well).

Stolen cards are a different thing, this is to stop people adding attachments to card readers (cash points in particular) to copy the card details without the card owners even noticing it to make cloned cards.

Chainsaw Plankton
IDLE GUNS
IDLE EMPIRE
Posted - 2010.02.14 06:56:00 - [6]
 

from what I know credit card fraud has been easy

hell with my debit card you can just run it as a credit card and it goes. at one of the stores I go to most of the time it is even don't sign if the purchase is under $50

Xen Gin
Silurian Operations
Posted - 2010.02.14 08:43:00 - [7]
 

Originally by: Mashie Saldana
The chip is a lot more difficult to clone (but according to that link now possible to do as well).


No, the chip wasn't cloned, but the stolen card sits in a card reader running its own software, which emulates to the card it was verified by signature, and to the card machine (in the shop) that it was verified by PIN.

I suppose it might be all the more relevant, but I wouldn't be letting people with cards that have wires hanging out of them to be making purchases.


 

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