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Personal Experience Of A Bank Account Takeover

Thursday, August 12, 2010 - 9:10 PM
The blogger at The Fraud Blog described a recent experience with a thief who used her debit card number to make fraudulent purchases. She in the process of getting this resolved, but her experience shows a problem with debit cards:
And since it was my debit card, well, my access to cash has been severely crippled.

4
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,675
1. Friday, August 13, 2010 - 4:20 PM
I use only credit cards for larger purchases (>$20) and for places like restaurants, etc., where you surrender the card and they disappear with it in the back.

Also, I probably won't ever use my cell phone to do any financial transactions - I simply don't trust the system to be secure enough.

 

So, those are two things one can do to prevent what happened to Tracy.

The insider job bit seems beyond our control - pointing out a flawed procedure to the institutions might eventually bring improvement.
2
darkdreamer4udarkdreamer4u174 posts since
Jun 11, 2010
Rep Points: 630
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