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jberryhill

(62,444 posts)

11. The issue then becomes how one defines "care"

Fri Mar 8, 2019, 11:31 AM

Mar 2019

Do they "care" about fraud? Sure.

What would you estimate to be the total cost of demonstrating this care in a practical way? In other words, who is going to pay whom to "do something", what is the "something", and what will it cost?

If the estimated cost exceeds, say, $1000, then what is being accomplished?

I know the bank and account number of a guy in Philly who steals thousands of dollars at a pop, using forged emails that are sent to people in companies, posing as an executive, and giving them wire transfer instructions. I know for a fact that this guy has collected at least $40,000 in this scheme. That and an hour of my time will get me lovely on-hold music from the FBI.

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Does nobody care about credit card fraud? [View all] edhopper Mar 2019 OP

What's the total dollar value? jberryhill Mar 2019 #1

around $1,000 edhopper Mar 2019 #7

The issue then becomes how one defines "care" jberryhill Mar 2019 #11

Credit card fraud edhopper Mar 2019 #13

Of course crime pays jberryhill Mar 2019 #15

point taken edhopper Mar 2019 #16

No they don't fescuerescue Mar 2019 #2

Better yet - they'll sell you "fraud protection" jberryhill Mar 2019 #12

CC has the highest rates because the loan is unsecured Buckeyeblue Mar 2019 #19

I was trying to use my chase card to buy tires and my card was declined.. dubyadiprecession Mar 2019 #3

The CC companies implement practices to prevent future fraud MH1 Mar 2019 #4

We are getting a new card edhopper Mar 2019 #8

Yeah, it's a shame, but I think there's a lot of small-time theft MH1 Mar 2019 #14

My card gets stolen about once a year. Farmer-Rick Mar 2019 #5

Another thing to be careful of treestar Mar 2019 #6

Chase is really good with fraud, imho. I've been alerted and sent new cards a two times over sarcasmo Mar 2019 #9

But are they doing anything edhopper Mar 2019 #10

Russia and Asian hackers, fraud alert is about the only thing you can do. sarcasmo Mar 2019 #21

Do banks just write off such losses as tax claims so they pay less tax? BSdetect Mar 2019 #17

Yes but that's not the reason why fescuerescue Mar 2019 #20

I used to work in the security dept. of a major credit card. Coventina Mar 2019 #18