7 ms·

After speaking to a friend who lost a lot of money due to a PA that purposely scammed them - make sure they are trustworthy and check their work. They will real

by bArray 5y ago

After speaking to a friend who lost a lot of money due to a PA that purposely scammed them - make sure they are trustworthy and check their work. They will really be in a good position to cause a lot of harm (even if by accident).

gnicholas 5y ago
How does one manage this risk? Presumably they need your credit card number pretty immediately, and bank or other sensitive information (SSN) within the first year or so. They would have all the necessary bits to open credit lines at that point. And in the meantime, they could run all sorts of unauthorized charges. Do you review the monthly credit card bills for a couple months, a couple years, or forever? How do credit card companies treat charges that were not authorized by the cardholder but were run by someone who was authorized by the cardholder to use the card? I assume they don't treat them the same as fraud resulting from a stolen card.
- bArray 5y ago
  > How does one manage this risk? I'm not really in a position to advice risk mitigation - I'll ask my friend if they have any retroactive advice. That said, a few words... > And in the meantime, they could run all sorts of unauthorized charges. I think this is something that you would speak to your bank about - at least giving them the heads-up regarding this arrangement. It should be possible to get flags set against your account encase of certain activities. I would go as far as not to tell the PA about this arrangement if possible - if they accidentally trigger an alert due to malicious activity then this could be to your advantage. > Do you review the monthly credit card bills for a couple months, a couple years, or forever? I would be checking all charges indefinitely, mostly concentrating on the larger substantial charges. I can't imagine such a review posing much of a burden in most cases. You'll likely find that somebody acting maliciously will become more emboldened with time. > I assume they don't treat them the same as fraud resulting from a stolen card. That will depend on the arrangement you have setup. Hope that helps.

by bArray 5y ago

gnicholas 5y ago

How does one manage this risk? Presumably they need your credit card number pretty immediately, and bank or other sensitive information (SSN) within the first year or so. They would have all the necessary bits to open credit lines at that point. And in the meantime, they could run all sorts of unauthorized charges. Do you review the monthly credit card bills for a couple months, a couple years, or forever? How do credit card companies treat charges that were not authorized by the cardholder but were run by someone who was authorized by the cardholder to use the card? I assume they don't treat them the same as fraud resulting from a stolen card.

bArray 5y ago
> How does one manage this risk? I'm not really in a position to advice risk mitigation - I'll ask my friend if they have any retroactive advice. That said, a few words... > And in the meantime, they could run all sorts of unauthorized charges. I think this is something that you would speak to your bank about - at least giving them the heads-up regarding this arrangement. It should be possible to get flags set against your account encase of certain activities. I would go as far as not to tell the PA about this arrangement if possible - if they accidentally trigger an alert due to malicious activity then this could be to your advantage. > Do you review the monthly credit card bills for a couple months, a couple years, or forever? I would be checking all charges indefinitely, mostly concentrating on the larger substantial charges. I can't imagine such a review posing much of a burden in most cases. You'll likely find that somebody acting maliciously will become more emboldened with time. > I assume they don't treat them the same as fraud resulting from a stolen card. That will depend on the arrangement you have setup. Hope that helps.