4 ms·
I think calebio is talking about the ability to steal a credit card number. If a salesman walks around and asks for cash - and someone gives him $20 - even if t
by hospadam 14y ago
I think calebio is talking about the ability to steal a credit card number. If a salesman walks around and asks for cash - and someone gives him $20 - even if they were scammed they only lost $20.
If someone comes to my door, asks me to donate $20 via credit card... there's a possibility of getting skimmed. If it's a scam - I stand to lose quite a bit more than the original $20.
- cdr 14y agoIf you gave him a credit card (and not a debit card or such) you're only on the hook at most for the authorized charges - the same $20. And even then you could chargeback the $20.
- pavel_lishin 14y agoBut he's now also caused you a significant amount of stress; not to mention, that's assuming you used a credit card instead of a debit card.
- lazerwalker 14y agoI could be completely wrong, but I've read various mass-media articles that suggest that a single stolen credit card is only worth $1-3 on the black market. If that's true, unless the dude with a Square reader is planning on using the stolen credit card number himself (which is a surefire way get caught), the twenty bucks this hypothetical fraudster legitimately charged you far outweighs the profits he'd get from selling your credit card data.
- pavel_lishin 14y agoYou're assuming that the fraudster has taken the time to calculate the risk/reward ratio. It could be someone with just enough tech savvy to steal your credit card, but not enough to not get caught.