Credit card fraud

[theraindew]

I got bitten by the credit card fraud bug for the first time! I got 6 msgs on my mobile for 6 transactions on facebook against my CC. One for 10k and the rest were for around 5k. I called up the bank and blocked the card. Now my friends say I shouldn't use my card for online purchases and infact never to do any online purchase!! :sad: I pretty much do all my shopping online!

 

[tintin2k2]

I got bitten by the credit card fraud bug for the first time! I got 6 msgs on my mobile for 6 transactions on facebook against my CC. One for 10k and the rest were for around 5k. I called up the bank and blocked the card. Now my friends say I shouldn't use my card for online purchases and infact never to do any online purchase!! :sad: I pretty much do all my shopping online!

Is your CC not enabled with 3D secure ? I am pretty sure that you will be protected by the bank's policy.

 

[theraindew]

3D secure.. not sure. It does have VbV though. Thye say the merchant has not claimed the transactions yet and have asked me to wait for 7 days and call back!

 

[anubisX]

If you have VbV then you're protected. See, someone tried to use your credit card to buy something online but couldn't pass the VbV stage thus the transactions are in pending stage. They won't be completed.

 

[theraindew]

Strange that the statement reflects the charges even before passing VbV. On a different note, I placed an order yesterday on the Amazon US website using a different Visa card and it did not even ask me for the CVV number! The payment went through just by giving the card number and exp date. VbV was pretty much useless in that case since it did not even get to that stage!

 

[Rupam]

Strange that the statement reflects the charges even before passing VbV. On a different note, I placed an order yesterday on the Amazon US website using a different Visa card and it did not even ask me for the CVV number! The payment went through just by giving the card number and exp date. VbV was pretty much useless in that case since it did not even get to that stage!

May be for credit cards VbV is not mandatory but for debit cards it mandatory. During payment page my debit card is accepted my amazon but later after 5-6 hrs they sent a mail saying that the card payment could not be processed. The amazon never asks for VbV and thats why it can not process debit cards. But CC can be processed for international transactions without VbV.

 

[anubisX]

Mine got passed few months back, didn't ask for VbV password. Strange !:sad:

 

[theraindew]

I spoke with their CC today and they said the merchant has claimed the amount and asked me to send the dispute form! According to them, VbV 'feature' should be enabled by the merchant site to work. Amazon IN site asks for VbV but not the US site, maybe since its a foreign site?! Is VbV only for India?



Hmm.. just found this!

The additional password has discouraged some customers from completing their purchases in the past. Visa says that opening the password process in a frame within the merchant's site rather than in a pop-up window has reduced this problem.
Critics have also questioned the actual security advantage of the extra layer. A hacker can create the password if a card does not yet have one, and the system is vulnerable to fake sites asking for the password.
In the U.S., some major online retailers such as Amazon.com have resisted implementing the system since it complicates check-out. Visa is promoting the system and is offering immunity from charge-backs and slightly lower processing costs for merchants who use it.

 

[anubisX]

Then it's very easy to order from Amazon, all you need is the card number, name on card and expiry date. :sad:


:shhhhhhhhhh: don't tell anyone about it.

 

[anuragn]

If I remember correct, this extra layer of authentication was mandated by RBI. Hence, it is not applicable to foreign sites.
By the way, Stan Chart has activated OTP (One Time Password) verification via SMS. I find it much safer now.

 

[theraindew]

I think the 'name on card' is trivial.. It doesn't have to be the actual name on the card!

A hacker can create the password if a card does not yet have one

OTP verification exists when adding the card to VbV. OTP will be sent to the registered mobile/email with the bank. But not during the actual online transaction :indifferent14:

 

[anubisX]

:sad: damn !!