4 ms·
Your case is distinctly different from “identity theft.” They simply got an existing card number (by skimmg, by writing it down while holding your card, by dump
by delinka 9y ago
Your case is distinctly different from “identity theft.” They simply got an existing card number (by skimmg, by writing it down while holding your card, by dumping the database of some ecommerce website, etc.) They didn’t pretend to be you and ask a bank for a new line of credit. Your case is most assuredly credit card fraud and nowhere near identity theft.
- zAy0LfpBZLC8mAC 9y agoOr maybe it isn't? The bank obviously claims that you are on the hook for something you didn't do, based on a transaction that used insufficient authentication to determine that it was (supposedly) you. Whether it's a credit card number or an SSN that the bank is using as a password even though it is not a secret doesn't really make that much of a difference, does it?
- amelius 9y agoIt's both "credit card fraud", and "gross negligence" on the part of the banks for not implementing a long overdue secure payment system.
- tyingq 9y agoThere's no incentive for banks or credit card companies to fix online CC fraud, because it costs them nothing. They provide no reasonable fraud controls, because for card-not-present, the merchant pays for the fraud. The merchant even gives the bank a $20-40 "bonus" in the form of a charge back fee for every occurance.