3 ms·
Does it allow the credit issuers just to shift the blame to the end-users and deny 75% of fraud claims where the user could not adequately prove they were not p
by xaqfox 11y ago
Does it allow the credit issuers just to shift the blame to the end-users and deny 75% of fraud claims where the user could not adequately prove they were not present at the time and place of the fraud?
- btilly 11y agoNo. The default in the USA is that consumers are not liable for anything that consumers claim they didn't buy, and the company can't prove they did. The reason it reduces crime is that you can't make fake credit cards with data collected from a skimmer, and use them in stores. Your fake credit cards fail because they can't do the chip interaction. Therefore in store fraud is reduced to people physically stealing your credit card.