ALERT! Some sort of...
 
Notifications
Clear all

ALERT! Some sort of credit card electronic fraud scanning in STT.

Page 4 / 6
 
CruzanIron
(@cruzaniron)
Expert

I don't understand why the bank/credit card companies would charge you if your card was fraudulently used without your knowledge.

In the event that your credit card is stolen in the United States, federal law limits the liability of card holders to $50 regardless of the amount charged on the card by the unauthorized user. In today's world of electronic fraud, if just the credit card account number itself is stolen, federal law guarantees that the card holder has a zero liability to the issuer.

As a card holder, you should notify the issuer immediately if you notice that your credit card is missing or stolen. This early notification will give the issuer time to help you with the following:

1. Verify if and where fraud has occurred.
2. Remove unauthorized charges from your credit.
3. Close down your account to prevent future fraudulent charges.
4. Issue you a new card and account number.

Several credit card companies have adopted a "zero liability" policy which means the consumer is not held responsible for any fraudulent charges.

ReplyQuote
Posted : August 1, 2014 2:43 pm
Alana33
(@alana33)
Expert

That's what I thought but the below quote by Gumbo confused me:
Did BP refuse to make good because it was a debit card vs. a credit card?

Well actually my Banco Popular debit card with a Visa logo was compromised twice for a combined sum of just over 900.00. Just so you know, Banco Popular doesn't make it good, you lose it. Unless its a business account, so they tell me.(after waiting for two hours because there was only two people serving customers) But I'm quite sure that if the fraud dropped my account below the point that I am eligible to be charged another fee, it will also be deducted from my account. Before this happened I thought that it was the worst financial institution I've ever done business with, now I'm sure.

ReplyQuote
Posted : August 1, 2014 2:58 pm
BeachcomberStt
(@BeachcomberStt)
Trusted Member

On Stt or anywhere you are traveling, is it just credit cards with the RFID chips being compromised by scanning or are regular magnetic strip cards being compromised by scanning or by other means, for example skimming(especially on Stt)?
I don't travel much, so I'm more worried about my regular magnetic strip debit/VISA card being compromised/stolen on Stt. And the most likely way these criminals will do it.

What about debit cards with a VISA logo? Do you have the same fraud protection as a credit card or do you lose your money if your card has been compromised?

Thanks in advance!

ReplyQuote
Posted : August 1, 2014 3:03 pm
BeachcomberStt
(@BeachcomberStt)
Trusted Member

Gumbo answered my question about a BP debit card with a VISA logo. That is so wrong to the highest degree!
I'm going to follow up with them right now and see what answer I get.

That's what I thought but the below quote by Gumbo confused me:
Did BP refuse to make good because it was a debit card vs. a credit card?

Well actually my Banco Popular debit card with a Visa logo was compromised twice for a combined sum of just over 900.00. Just so you know, Banco Popular doesn't make it good, you lose it. Unless its a business account, so they tell me.(after waiting for two hours because there was only two people serving customers) But I'm quite sure that if the fraud dropped my account below the point that I am eligible to be charged another fee, it will also be deducted from my account. Before this happened I thought that it was the worst financial institution I've ever done business with, now I'm sure.

ReplyQuote
Posted : August 1, 2014 3:08 pm
CruzanIron
(@cruzaniron)
Expert

That's what I thought but the below quote by Gumbo confused me:
Did BP refuse to make good because it was a debit card vs. a credit card?

Consumer liability for debit and credit card charges is limited to $50 when fraud is reported. However, VISA and MasterCard, which control 100 percent of the U.S. debit card market, have gone one step further, and require that credit card issuers like Capital One, Chase and Citibank adhere to a zero percent liability policy for their customers. They also require that immediate refunds be granted on disputed charges. Most major credit card networks have applied these rules as well.

The amount of protection offered by debit cards versus the level of protection offered by credit cards is identical, as mandated by the law and in common practice. But this is not to say that the level of protection matches the level of convenience. Both debit and credit cards offer zero percent liability, meaning that all consumers who find themselves victims of card fraud will end up in the same place–their money will be refunded.

http://money.usnews.com/money/blogs/alpha-consumer/2009/08/18/fraud-protection-debit-versus-credit-cards

ReplyQuote
Posted : August 1, 2014 3:09 pm
CruzanIron
(@cruzaniron)
Expert

Hmmm......here is another source with other info. There is a TIME LIMIT on debit claims.

For debit cards, your loss is limited to $50 only if you notify your financial institution two business days after learning of loss or theft. It then goes to $500 until 60 days after the statement is mailed and becomes unlimited thereafter. For a credit card, your liability is limited to $50 for any fraudulent use.3

http://www.lifelock.com/education/your-money-and-finances/debit-credit-card-protection/

ReplyQuote
Posted : August 1, 2014 3:13 pm
CruzanIron
(@cruzaniron)
Expert

This just happened to my wife and another friend on St Croix. One of the cards was only used at a single location in St Croix. If it was done using a skimmer then we know the location it took place. We could also determine the employee responsible. I'm not sure if we should contact the police or the owner of the location. Maybe some personal reconnaissance. We only figured it out today.

The police have been on the radio asking for this information.

ReplyQuote
Posted : August 1, 2014 3:14 pm
BeachcomberStt
(@BeachcomberStt)
Trusted Member

Gumbo, does your BP debit card with a VISA logo have a chip or does it have a regular magnetic strip?
Do you have any idea where and how your card was compromised?

Well actually my Banco Popular debit card with a Visa logo was compromised twice for a combined sum of just over 900.00. Just so you know, Banco Popular doesn't make it good, you lose it. Unless its a business account, so they tell me.(after waiting for two hours because there was only two people serving customers) But I'm quite sure that if the fraud dropped my account below the point that I am eligible to be charged another fee, it will also be deducted from my account. Before this happened I thought that it was the worst financial institution I've ever done business with, now I'm sure.

ReplyQuote
Posted : August 1, 2014 3:45 pm
BeachcomberStt
(@BeachcomberStt)
Trusted Member

CruzanIron, thank you for this information.
I'm still going to follow up with BP, using this information.

Hmmm......here is another source with other info. There is a TIME LIMIT on debit claims.

For debit cards, your loss is limited to $50 only if you notify your financial institution two business days after learning of loss or theft. It then goes to $500 until 60 days after the statement is mailed and becomes unlimited thereafter. For a credit card, your liability is limited to $50 for any fraudulent use.3

http://www.lifelock.com/education/your-money-and-finances/debit-credit-card-protection//blockquote >

ReplyQuote
Posted : August 1, 2014 3:53 pm
speee1dy
(@speee1dy)
Expert

bobn, skimmers could be installed by anyone and not necessarily by an employee, they are often installed at bank atms

ReplyQuote
Posted : August 1, 2014 5:23 pm
AandA2VI
(@AandA2VI)
Trusted Member

In the paper. Couple days late - seriously sick from food poisoning. Ugh.

http://virginislandsdailynews.com/news/wave-of-credit-card-fraud-hits-st-thomas-1.1725276

ReplyQuote
Topic starter Posted : August 1, 2014 6:49 pm
Gumbo
(@Gumbo)
Advanced Member

It has a chip, It is secured by Visa which lets you use It world wide. I don't care what you read or what they tell you. If your Debit card from Banco Popular is compromised by criminals they will not be thereto back you up, they didn't even offer 50.00. Believe what you want. I'm out over 900.00 They called me within minutes of the fraud being perpetrated. so It wasn't after a length of time.

ReplyQuote
Posted : August 1, 2014 9:56 pm
noOne
(@noOne)
Trusted Member

The range of a scanner is usually a few inches. Some claim to have a 3' range.

A commercial scanner, yes. Home built or modified, up to three feet.

ReplyQuote
Posted : August 1, 2014 10:08 pm
CruzanIron
(@cruzaniron)
Expert

The range of a scanner is usually a few inches. Some claim to have a 3' range.

A commercial scanner, yes. Home built or modified, up to three feet.

Yes, that is what I said - 3'. And I attached the article.

ReplyQuote
Posted : August 1, 2014 10:18 pm
noOne
(@noOne)
Trusted Member

You said "Some claim..." as if it isn't reality.

ReplyQuote
Posted : August 2, 2014 12:49 am
aussie
(@aussie)
Trusted Member

This may have nothing to do with chips or scanners. This is taken from an alert sent by my credit card processing company...

"...the United States Secret Service and other government agencies responsible for monitoring cyber-related fraud, believe that the recent reports of credit card issues on the Virgin Islands derive from software attacks on Point-Of-Service ("POS") units and their associated computer systems. Simply put, this means that cyber-criminals may be attempting to infect certain computer systems at the merchant location with viruses or other malware, which allows them to steal or duplicate credit card information before the credit card information is actually sent to us for processing. "

ReplyQuote
Posted : August 2, 2014 1:20 am
noOne
(@noOne)
Trusted Member

It probably is spyware.

ReplyQuote
Posted : August 2, 2014 1:25 am
AandA2VI
(@AandA2VI)
Trusted Member

Yes that makes the most sense. I KNOW for a fact it's not just cards with chips. Best to just use cash or monitor your banks closely.

I use an app called Check. To monitor everything - all accounts - bills - investments. It's great and send alerts real time for transactions over $250. Unfortunately you can set that lower but it's an easy app to see everything all in one place.

ReplyQuote
Topic starter Posted : August 2, 2014 1:34 am
speee1dy
(@speee1dy)
Expert

At does explain it better than some people using a reader or skimmer. Things moved way too fast.

ReplyQuote
Posted : August 2, 2014 11:36 am
trainwreck82
(@trainwreck82)
Advanced Member

Almost 100% of the POSs I've seen in the VI are running some version of Windows XP with no/outdated antivirus and antimalware software. This may have nothing to do with what's happening, but if I had to put money on it this would be my bet.

ReplyQuote
Posted : August 4, 2014 3:53 pm
speee1dy
(@speee1dy)
Expert

okay, cruzan you got me on that but it will also cost all consumers in the long run due to higher prices on products that we purchase

ReplyQuote
Posted : August 4, 2014 9:15 pm
AandA2VI
(@AandA2VI)
Trusted Member

UNBELIEVABLE! Just happened to me with my stateside bank. They tried to make a transaction of $132 at wynn dixie? in Florida just moments ago from my stateside bank. My fraud department called and has canceled the card. This is TOTALL BS. Why is the police department not looking into this. They clearly know its been happening as its been in the papers twice and effecting all three islands! Does anyone know if PR is having this much of an issue?

Once again this is NOT a chipped card. So unless you use cash you're pretty much screwed. Luckily my bank is awesome and of course caught it right away. Only two places I've used the card was at Nidals and Hull Bay Hideaway which I KNOW for a fact no one is taking my info as I am standing there watching the transaction. It most certainly has to be a POS issue with spyware. Ive never owned a biz that used a POS - how does a business protect from this???

ReplyQuote
Topic starter Posted : August 7, 2014 8:06 pm
OldTart
(@the-oldtart)
Expert

Why is the police department not looking into this. They clearly know its been happening as its been in the papers twice and effecting all three islands!

Since this started they've been asking people to come forward. They know what's going on and they have resources to investigate. They've heard about it through the media and forums but their hands are tied as long as people affected don't go to them and give them details. Good for you that your bank has a good system - but hopefully you'll also provide the information to the VIPD.

ReplyQuote
Posted : August 7, 2014 8:25 pm
AandA2VI
(@AandA2VI)
Trusted Member

Yep I will call them right now but last time I tried to report a crime that someone broke into my car and stole $400 from a cruise ship passenger they said they were TOO BUSY TO SEND OUT A CAR. Yea. Seriously.

ReplyQuote
Topic starter Posted : August 7, 2014 8:29 pm
AandA2VI
(@AandA2VI)
Trusted Member

So I go to the website and first thing I see: http://www.vipd.gov.vi/Public_Interest/Press_Releases/Show_Press_Release/14-08-06/Protect_Your_Customers_Against_Fraud.aspx

Clearly they know its happening.

ReplyQuote
Topic starter Posted : August 7, 2014 8:33 pm
Page 4 / 6
Close Menu