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I just checked an account recently used at Target, and it had about $800 in fraudulent charges made in the last couple days. Called the bank, cancelled the car
by panarky 13y ago
I just checked an account recently used at Target, and it had about $800 in fraudulent charges made in the last couple days.
Called the bank, cancelled the card. This is becoming almost routine, the third breach of my personal accounts in two years.
I wonder why learning algorithms aren't preventing more fraud. My card has a very clear pattern of use -- locations, merchants, etc. The fraudulent charges are invariably in distant cities, at merchants I've never patronized.
Yet occasionally the bank will take the initiative and shut off an account for suspected fraud -- for charges made within 2 miles of my home, and merchants I've done business with for years, etc.
With petabytes of transaction and fraud data, why can't they build more intelligent fraud detection?
- sehrope 13y agoAnother option is to monitor your accounts yourself. Most credit card companies allow you to setup email/sms alerts for charges (or charge attempts). This gives you an immediate notification if unauthorized charges appear rather then logging in and checking it every so often. Another advantage of this approach is that for most legitimate charges the email comes right after you used the card when you'll remember the specific details(ie no trouble remembering lots of small purchases at the end of the month).