Credit Card Fraud

[sheeny]

I went into my Credit Union account 2 days ago to transfer some money to Lyn's account, and was greeted by a $975 withdrawal from my account which I knew nothing about from a company in London.

A few weeks earlier the Credit Union had contacted me about a $200 amount also in London, but at the time it wasn't long after I had bought my Staranalyser from Paton Hawkesley... so I was expecting a ~$200 amount.

This time I contacted the Credit Union, and on investigation, they were able to tell me this $975 withdrawal was for bets through this particular internet funds transfer company (I won't mention them at this stage, but it is a different company to that used by Paton Hawkesley for their online business). They had used my debit card number, so I immediately had that card blocked and requested a new card.

In the meantime, I was advised to contact the company concerned and advise them of the incorrect debit and demand a refund, as a first step before the fraud process was initiated.

Well, this morning I got an email back from the company advising they will credit me the money since it was not me who authorised the debit.:) So, I'm just waiting to see when it reappears... so fingers crossed, otherwise there is always the fraud process to follow.

Such a hassle though when you realise someone is ripping you off and you have to block/cancel cards and get new ones, etc. I have been reasonably vigilant, I thought, about the security of my cards and online purchases... It makes you wonder how secure it all is!

One thing it has made me appreciate, is not to keep all your money in the account attached to your card. They could've got maybe another 2 grand, but fortunately I have an S2 savings account as well (which is not accessible by card), so I intend to maximise my use of that in future.

Al.

[xelasnave]

Al that is a worry... I hope it all is fixed to your satisfaction.
I recommend that you spend all liquid funds on astro gear so there are no funds to nobble...
alex

[sheeny]

:)
Yes... that approach does have a certain appeal.

Al.

[Dennis]

So sorry to hear about that Al, what a bummer.:(

This happened to us just recently, although we actually caught them in the act. We were paying an insurance premium on line and I noticed that the balance on our card have moved since I looked earlier in the day.

I immediately ‘phoned the bank and as we were talking, 2 more fraudulent debits were made, so the card was cancelled immediately. Although we told the bank rep that we were both at home with our cards in our hands, we still had to go through the dispute process, but the good news is that the funds were credited back, some 3 weeks later, although I am still pursuing a $25 over limit fee the bank stung us with!

The inconvenience of changing standing orders, etc was quite onerous.

Cheers

Dennis

[GeoffW1]

Hi Al,

I was a TAFE teacher, and had an account with a linked credit card, with a Credit Union which for obvious reasons I can't name, but it also has accounts labelled S1, S2 etc.

I noticed a fraudulent debit in Austin Texas, where I have never been, and contacted them. There was the usual argybargy about stat decs and so forth, and they let it slip that my credit card number was one of a batch known to have been stolen.

I said "well why did you not notify me?" and the Credit Union woman floored me by replying "it's your responsibility to check your account!!" Duh!!

"Why do you think I'm ringing you now you twit? What is your responsibility then as my Credit Union? Don't you have any?"

After a bit of a furious exchange they agreed they had been a bit lax, and reversed the transaction. I would have refused to contact the party in Austin (it was a bookshop) but they never asked for that. Got to watch out :scared:

Cheers

[Ian Robinson]

Sheeny ,

Was the first transaction done on line , or by telephone (a phone order) , or by mail / fax ?

This is the reason why I REFUSE to use online banking and online credit transfers for stuff I buy here in Australia and from overseas with the exception of buying via PAYPAL (it comes with protection). In fact for local mailorder purchases I stick with cheques. A LOT SAFER THAT WAY .

I also refuse to keep ANY financial info or other information that will provide enough info to build a replica of my identity on any of my internet capable computers.

If I were you I would contact Paton Hawkesley as well and advise of this , could be that either one of his staff has done the fraudulent transactions or that his computer's security has been breached , he needs to know there is a problem too.

When I was stung - fraudulent EBAY purchase a while ago , I contacted my Building Soc who had issued my Visa Debit Card and they advised me to contact Visa who immediately reversed the transaction , PAYPAL had refused to help me as I had been waiting over 3 months for my GEM to arrive by surface post from a crook in the USA , who had disappeared promply on receiving my money.

Contact the Fraud Line for your credit card and tell them about this , and demand a reversal.

Why are you waiting ? .... START THE FORMAL FRAUD LEGAL AND POLICE PROCESS NOW .... I WOULD.

[g__day]

The Banking regulation act and Credit Card acts provide significant protections to users for transations on credit. Basically from 90 - 120 days from a transaction the user can repudiate it (so in effect the law transfers the risk to Bank and Merchant - not user).

Grounds for repudiation are basically:

1. Not the goods I ordered
2. Goods not in saleable condition
3. Not my transaction

These protections are for credit card risks. Once the user says I repudiate this transaction the Bank must confirm the grounds for the charge-back and effect it - then its between the merchant and the card issuing bank to clear up the mess. Too many chargebacks and the Bank will remove access to credit for this merchant.

So are transactions safe - no, but the risk is transfered to the issuing bank by several Australian laws. Banks accept this small risk for the profits credit transactions create.

[Ian Robinson]

All my emails and PMs and comms and attempted comms with the fraudster and PAYPAL and EBAY were requested by VISA and provided to them by fax , EASILY provided.
They had no problem reversing the transaction , and I believe EBAY banned the fraudster afterwards.

MUST KEEP RECORDS - EMAILs are great , I have a special folder in my hotmail account for this.

[Ian Robinson]

I had heard something like that , thanks for the info ..... MODERATOR , Please make his post a STICKY ....

[Ian Robinson]

My approach is to have a SEPARATE Credit/Debit (mine is a debit card) linked to a working account and only to place a little more than the funds required (ie if the goods will cost 200USD , I calculate the AUD and put that amount + 10% into the account NO MORE . That way if some fraudster somehow cracks PAYPAL all they can get is the +10% amount if the changes on exchange rate haven't taken that amount in the proper transaction.
Loosing the +10% amt wont hirt my financial position - I would still repudiate the fraudulent transaction though if I experience another one.

My biggest concern is identity thieft and someone opening credit cards with my identity (and my eventually recieving the bills for these) :scared: .
Internet based banking is DANGEROUS !!!

[Jen]

:doh:Oh sorry to hear about that Al
I hope you get your money back ok ;)

[Starkler]

I had a call from my bank a couple of months ago informing me that my cc details got harvested when i visited London back in April and they will cancel/reissue my visa card. Thankfully i didn't have any unauthorised transactions.

I was somewhat amazed by this as the only places i used it was at Victoria station buying train tickets, and a duty free store at Gatwick airport.

In both cases my card was swiped at the desk and handed straight back to me :shrug:

[Dooghan]

You may want to read this story http://online.wsj.com/article/SB122366999999723871.html?mod=googl enews_wsj

Could explain how it was done.

[sheeny]

The Paton Hawkesley transaction was online, but there is no evidence to link the two. I mentioned it because the CU were on to me about it at the time... it may just be coincidence that both were in the UK:shrug:.


I intend to. The fraud officer is on leave - back on Tuesday.

Al.

[centroid]

I had the same thing about 12 months ago, when two attempts were made to place two 400 pound (approx $950 AU) online bets on my credit card account.

Fortunatley, the credit card company were quite 'switched on' and blocked the payment, 'froze' my account, and contacted me to ask if the transactions were genuine or not.

Apparently, they monitor accounts and look for unusual transactions. Unusual to the account holders normal spending pattern that is.

Hence my having to inform them that I was going to be in WA, for a few weeks, and the dates involved.

Dave

[leon]

Although I have money in the bank I have no cards attached to any account, if I need some cash to purchase anything I personally have to go in and with draw it over the counter.

It is probably safer to put your money under the mattress these days.

Leon

[jjjnettie]

This is just another reason why we don't have a credit card.

[sheeny]

I have received a credit, but it's about $65 short (probably due to exchange rate changes), so I've sent back an email asking them to make up the difference, since it wasn't me who instigated the transaction, and I don't think I should have to be out of pocket as well as inconvenienced.

Al.