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Twenty Cent Credit Card Charges Alerted Feds To Criminal Ring

Wednesday, October 6, 2010 - 6:35 AM
Clark Howard describes why it's important to review each charge on your credit card statement even if it's small:
The crooks set up fake companies and got merchant privileges because of the loose regulations in the banking industry. Then they started putting through $9 charges on an untold number of accounts. Virtually no one ever noticed the $9 charges.

The New York Times reports that success with the $9 charges apparently emboldened the criminals. Next, they started pushing through 20-cent charges. Well, people noticed that.

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Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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