Hacked for the Holy days

[Lew L]

Just in for the holidays----
My wife found out our credit card got hacked last night to the tune of $2000. Be very careful out there.

Kaos

[Bob Denman]

I hope that you can get it all sorted out with a minimum of...

...Kaos!
Good Luck!

[billybovine]

Sorry to hear that. Your financial institution should cover your full loss, but there may be some haggling.

By the way have you folks in the US finally joined the rest of the world and gone to Chip and Pin credit cards. That from what I have read will reduce credit card fraud by 80 to 90% over magnetic strip.

[BLUEKNIGHT911]

Sorry to hear that. Your financial institution should cover your full loss, but there may be some haggling.

By the way have you folks in the US finally joined the rest of the world and gone to Chip and Pin credit cards. That from what I have read will reduce credit card fraud by 80 to 90% over magnetic strip.

I can't speak for the rest of the US but in Vt. they have been very slow about this ( even tho the retailers have been paying fines for non-compliance ). Only in the past few months have they been chatching up ...... Mike

[BLUEKNIGHT911]

Sorry to hear this ..... that su*ks big time .........Mike

[Chupaca]

That is rough....most of my credit cards are covered for that but takes a bit of time. Hope yours are as fast as ours...

As for chips and pins...all my cards have them but the stores and shops are really slow getting on board...

[no chrome]

i feel your pain as weve been hacked 2 times in the last 2 months

[SPYD3R]

LIFELOCK.....

cheap money for fabulous protection....
Dan P
SPYD3R

[SPECTACUALR SPIDERMAN]

got the chip reader in last month, old processor wanted to charge for the machine, new one gave it away & lowerd
the rates.

[Trbayth]

Some cards in the US aren't quite chip-and-pin. More like chip-and-sign which really doesn't help much.

Biggest news is the gas stations got another couple of years to come in compliance with the pumps. That's where the worst problem with skimmers exists.

[billybovine]

I had read that some cards where going to chip and sign. I thought how stupid is that so I did not believe it. But you say it's true. WOW! Still relying on a 18 year old part time cashier to be a handwriting expert. How safe is that.

[pitzerwm]

LIFELOCK.....

cheap money for fabulous protection....
Dan P
SPYD3R

In my opinion LIFELOCK is a ripoff. Credit Karma (.com) is free and solves the problem. (you also get your FICO score every month) Regulation Z protects you from all charges except $50, which so far no company has charged you.

One good thing with a hack, is that you get a 7 year fraud alert on all of your credit. This totally stops anyone from making changes or opening anything in your name. You might have to insist that they implement this.

One last thing most credit cards have the ability where you can set alerts. Am Ex you can set an alert anytime your card is used without the card being present. Chase has anytime your card is used over an amount you set. They send a text and an email.

NEVER use your debit card anywhere but a ATM. Reg Z doesn't cover your debit card!!!! So far most banks will refund losses but legally they don't have to.

[Lew L]

All squared away. Card cancelled, no charges to us, the seller eats the losses. The banditoes must have made a card with our # on it. Would a retailer make a sale with just the card # and no physical card????
Thanks for your good thoughts. Be careful out there.

Kaos

[ARtraveler]

All squared away. Card cancelled, no charges to us, the seller eats the losses. The banditoes must have made a card with our # on it. Would a retailer make a sale with just the card # and no physical card????
Thanks for your good thoughts. Be careful out there.

Kaos

That would happen with internet purchases but should not happen with face to face merchant sales. They would need an actual card for the card reader.

[wyliec]

NEVER use your debit card anywhere but a ATM. Reg Z doesn't cover your debit card!!!! So far most banks will refund losses but legally they don't have to.

I checked with my bank previously when someone hacked/jacked my debit card number for $1800, and they said it was covered. They immediately put the money back with a stipulation that after an investigation (which lasted 3 months) that the $1800 wasn't actually mine until the investigation was completed. So, that $1800 was actually in limbo for the 3 months. I have no idea what this Reg Z is; is there a link you can point me to?

To answer the OP's question, the answer is yes that there are those businesses that will take a payment with the card number, and no card. I also had a credit card that that was done to. I also got that money back, which was $1500. I was given the name of the business that had done it, and told to let them (the credit card company) handle it.

I just found Reg Z, and it only has to do with credit cards, and nothing to do with debit cards. I thought you were inferring that you are SOL if your debit card is hacked or stolen, and are liable for any charges.

[zuni]

Glad you got everything worked out. I had an issue two years ago (which was resolved with no fuss) and decided to freeze all my credit (Experian, TransUnion, and Equifax). Easy to do and no more worries about anyone opening accounts or doing anything under my name. Have all the credit cards, cars, and spyders (well maybe not) so I am not in the market for credit. I can call or log into my account and get a temporary passcode if someone does need to check my credit. I had do do that in April when a company made me an offer but needed to do a financial background check. I wouldn't even carry a debit card if I could but I use it for cash. If my Amex or credit union credit cards get compromised they take care of it and send a new one. The credit card companies don't care about the loss. They charge back when they can or have it covered by the insurance they carry to cover fraud losses. While we may not pay for the losses directly, we all get to share it indirectly.

CJ JAX

[SpyderNeil]

Sorry to hear that. Your financial institution should cover your full loss, but there may be some haggling.

By the way have you folks in the US finally joined the rest of the world and gone to Chip and Pin credit cards. That from what I have read will reduce credit card fraud by 80 to 90% over magnetic strip.

I rode through Washington State, Idaho, Montana, Wyoming, and South Dakota on my way to and from the rally in Deadwood. I only came across one terminal that used the chip in my MasterCard, in a liquor store in Lead, and the clerk had no clue why the machine wouldn't take my card. She had never seen a Chip Card before.

Neil

[Motorcycledave]

Sounds like someone was doing some Christmas shoplifting
Bummer

[Bob Denman]

The credit card companies send out alerts over suspicious card usage??

I'm a dead man!

[pitzerwm]

I just found Reg Z, and it only has to do with credit cards, and nothing to do with debit cards. I thought you were inferring that you are SOL if your debit card is hacked or stolen, and are liable for any charges.

Legally the banks do not have to make good on your debt card thefts. For the most part they are making people hold, but I had a friend that was a moron, and got hacked a couple times, the bank quit refunding the loss.

My understanding is that if a merchant is not using the chip validation, they eat it. Many don't want to pay the fee to add that to their reader hoping that their losses are less than the fees. Of course the rest of the world has had chips for 5-7 years. At restaurants you don't hand anyone your card they have a wireless terminal at the table. Another risk removed for you.

[PistonBlown]

Chip and pin is old technology in New Zealand now.

For the last couple of years we've had pay wave where you just hold your card briefly near the machine. Any payments under $80 just go through, anything over $80 your prompted to enter your pin. There were some horror stories in the press about how insecure it would be but apparently has been the opposite.

There's very little cash transactions in NZ as everyone tends to use cards, even for small transactions like a cup of coffee.

[Dan McNally]

Sorry to hear that. Your financial institution should cover your full loss, but there may be some haggling.

By the way have you folks in the US finally joined the rest of the world and gone to Chip and Pin credit cards. That from what I have read will reduce credit card fraud by 80 to 90% over magnetic strip.

As is so often the case with our government, they passed a new law, touting it as something that will make things better, but which, in reality, does nothing of the sort. Our government took the "half-assed" approach - they required card issuers to put the chip in, but didn't require the PIN, which defeats the purpose of the chip. And, to date, many vendors still don't have the ability to use the chip.

[billybovine]

Chip and pin is old technology in New Zealand now.

For the last couple of years we've had pay wave where you just hold your card briefly near the machine. Any payments under $80 just go through, anything over $80 your prompted to enter your pin. There were some horror stories in the press about how insecure it would be but apparently has been the opposite.

There's very little cash transactions in NZ as everyone tends to use cards, even for small transactions like a cup of coffee.

My credit cards and bank access debit card in Canada have been been paywave for several years. Limits in each store are different here depending on risk. Grocery stores, dept stores or similar will have $100 limit but corner convenience stores may only have a limit of $20. One of my cards is setup on my phone to use paywave and the technology works but the app from my bank sucks and it's just easier to tap my card.

[OJ UK]

Chip and pin is old technology in New Zealand now.

For the last couple of years we've had pay wave where you just hold your card briefly near the machine. Any payments under $80 just go through, anything over $80 your prompted to enter your pin. There were some horror stories in the press about how insecure it would be but apparently has been the opposite.

There's very little cash transactions in NZ as everyone tends to use cards, even for small transactions like a cup of coffee.

Same in the UK.The crooks are now looking for wallets in back pockets and carry a card reader that will bill that card or take it's details. eBay are already selling metallic card protection sleeves!

[IdahoMtnSpyder]

As is so often the case with our government, they passed a new law, touting it as something that will make things better, but which, in reality, does nothing of the sort. Our government took the "half-assed" approach - they required card issuers to put the chip in, but didn't require the PIN, which defeats the purpose of the chip. And, to date, many vendors still don't have the ability to use the chip.

Here's an interesting article from a couple years ago that will provide some insight why the US hasn't gone fully to chip and pin. http://www.creditcards.com/credit-ca...ology-1276.php

In short, the PIN provides real protection only if you lose your card. The chip itself makes counterfeiting nigh impossible. Capturing transaction data from a single purchase also does not enable counterfeiting. The US has multiple times the number of card issuers and card processors than do other countries. Making a major change in the CC system in the US is a gargantuan task. Americans typically carry more cards than do other world citizens so there would be a big push back by consumers if they had to remember 5, 6, or more PINS.

Keep in mind the CC business is a huge money making business, and changes cost money, money banks are loathe to give up. The CC industry has fought moving to chip cards tooth and nail. Money buys Congressmen and Senators. So not moving to chip and PIN is not a typical "half assed" Government approach problem, it's a money problem. And as you know, money talks.