More credit card frauds traced to India

[OhioChick]

May 31, 2008 10:57 IST

More cases of international credit card fraud with links to India have come to light in Britain, even as authorities refused to rate the problem from Indian cities as very high.

In a latest incident, a British journalist discovered that money was withdrawn from his bank account in Chennai this week, while nearly 500 others in Bournemouth suffered the same fate.

British security officials have been grappling with card-cloning, by which card details are surreptitiously recorded during transactions at petrol pumps and supermarkets, and emailed across the globe for illegal withdrawals from ATM machines.

In the last one year, several cases have come to light when British consumers found that money was withdrawn from their accounts from Mumbai, Chennai and other parts of India.

http://www.rediff.com/money/2008/may/31credit.htm

Nice....

[Captain Angry]

1. A buddy of mine had his credit card number stolen on a cruise.

When he got home, he checked his statement and was wondering how he bought $3000 worth of auto parts in Mexico City when he was on a cruise thousands of miles away.

It happens all over the world. You'd think the software intelligence would have made it to the point by now that it could detect transactions and decide if ones outside of their home country are likely or possible.

[ChromeFoundry]

5. Yes, this is a great idea...

and would not be all that hard to implement. But, credit card companies will only spend money on developing software of this nature, and implement to the normal card holder when it is mandated by the government. You are solely responsible for your credit standing... plus, if there is a threat then there is a service like this that you can pay additional fees each month to have attached to your credit card statement. Fact is, you can get this now, but you will be charged for it. It's all about profits, always will be.

[bemildred]

2. Gee, who could have predicted this? nt

[OhioChick]

3. Yeah....

Color me surprised, too.

[Dr.Phool]

4. Chase Fraud Prevention called me last month about suspicious activity.

A whole bunch of transactions in Brazilian Real's.

[OhioChick]

6. I discontinued my business with Chase

once I found out that they were outsourcing all of their IT work to India. I don't want all of my personal information traveling around the globe.