Merchant Fraud Awarness - Takeover Targets
This is a discussion on Merchant Fraud Awarness - Takeover Targets within the FFL Dealer Discussion forums, part of the Related Topics category; These are in fact the two main problems. The thieves are protected and the banks actually make money from fraud. The merchant loses. The banks ...
February 28th, 2012 10:54 AM
These are in fact the two main problems. The thieves are protected and the banks actually make money from fraud. The merchant loses. The banks and thieves are happy.
1. The Issuing Banks have no incentive to prevent fraud since they are able to turn the merchant into the victim.
2. An LA FBI Internet Fraud Agent told me they would not touch a case under Seven figures and the thieves know this.
February 28th, 2012 11:12 AM
Merchant agreements forbid the asking for ID by the merchant; with few exceptions. Airlines are required to verify the ID of the
Originally Posted by ctr
passengers and I think the Patriot Act requires hotels and motels to verify ID. Ordinary consumer services should
never be asking for a second ID, and I, as CTR will usual refuse, ask to speak with a supervisor, then take my business elsewhere.
I also go on-line and report the merchant violation to the card company.
There is another place where I am asked for information, apparently required by FTC regulations, and it opens everyone
to ID theft. The so called Red Lock Rules or Red Flag Rules. Designed to prevent fraud, they actually require many small
offices to collect information which if compromised can lead to ID theft.
We have a huge problem with the manner of issuance and use of Social Security Numbers and Credit Card Numbers.
Neither problem is insurmountable, but we are tolerant of a certain amount of background fraud and theft.
I don't have an answer. Don't like much of what Sig250 suggests, but I certainly see where he is coming from and
do have sympathy for the legitimate merchants caught in the middle.
If the Union is once severed, the line of separation will grow wider and wider, and the controversies which are now debated and settled in the halls of legislation will then be tried in fields of battle and determined by the sword.
February 28th, 2012 02:36 PM
I don't know where you are getting your information. It is BS. Perhaps you could site a Visa/Mastercard Merchant rule, a state statue (any state will do) or a Federal law that prevents merchants from requesting positive identification for ANY transaction, even cash.
Originally Posted by Hopyard
The merchant, at is sole discretion can deny service to Anyone. No shirt, no shoes, No service, no ticky, no washy, etc. the only exception is where a denial of service is based on civil rights and then only if specifically related to race. It is in fact not illegal to deny service to a person based on religion or in some cases, simply his looks. Most merchants will not serve persons wearing ski masks or vail that do not allow the merchant to see the face of person they are serving.
There is absolutely nothing that precludes a merchant from requiring positive identification in the form of a drivers license, a state issued picture Id or other valid ID requested before accepting a sale. The merchant may also ask Any person to leave his premise for Any reason.
The buyer, in turn is not obligated to furnish requested positive identification but should expect that he will walk out the door (or asked to leave) without service or merchandise from the seller.
If you understand, things are just as they are... If you do not understand, things are just as they are....
- Zen Saying
February 28th, 2012 03:26 PM
You've got it backwards Hopyard. Merchant agreements require the merchant to verify ID, do any do it, no, not really. But it is part of the merchant contract that you must verify ID for everyone using a credit card.
Merchant agreements forbid the asking for ID by the merchant
We hold these truths to be self-evident, that all
men are created equal...
Alabama Constitution of 1901 - That every citizen has a right to bear arms in defense of himself and the state.
April 29th, 2015 02:31 PM
I agree to some of your points
You can keep points in mind but still be victim of credit card fraud.
You mentioned that
Do not ship to an address other than the cardholders unless it can be verified. A company address can usually be verified by phone and the use of tools such as a white pages search and Google maps."
What if the customer is sending a gift to a loved from an e-commerce site.
Let's not restrict what people can buy with their credit cards. In country like india where e-commerce has recently picked up Reserve bank has put up very stringent guidelines. A credit card holder is given a secret pint which he is supposed to enter at the time of transaction much like an atm pin. This has added an additional layer of security for customers.
Also, nowadays sophisticated machine learning software is available- albeit at a cost- from companies such as kreditech which can spot fraudulent transactions in matter of seconds by spotting unusual transaction patterns.
April 29th, 2015 10:32 PM
Jumping from the grave...zombie thread.
I find supremely ironic that God in his wisdom and grace has given man freedom of choice bounded by 10 simple rules. Man in his finite wisdom has created millions of rules to limit freedom of choice and the personal responsibility of his fellow man.
April 29th, 2015 10:57 PM
Too much has changed in commerce for this to be a valid and reincarnated thread, other than common sense safeguards which are easy to pick up anywhere..
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