Identity Theft

mastercard pic
photo courtesy of Yahoo news

For the longest time, I’ve gotten into the habit of showing my I.D. together with my credit card. But lately, I’ve noticed many establishments don’t require identity verification. They’ve also raised minimum purchase to $50 which means you don’t have to sign credit card transaction. On occasion, I’ve asked why they’ve changed their policies and most would reply, “Makes it more convenient for customer.” OR “Makes it fast and easy for everyone.”

Yesterday, we got another email and call regarding a fraudulent credit card transaction on our Master card. This is not the first time it’s happened. First time, there were purchases made by a company called, “Transylvania” in London. Another time, a large purchase was made in Best Buy. And more recently, someone’s been filling up their tank in Vancouver.

I’m glad each time it’s happened the credit company has somehow been able to catch it.  And every time this happens, we cancel the card and they issue us a new one. It takes about 3-10 days to get a new card. We’ve also kept a close eye on our credit card transactions and changed our PINs.

This afternoon, I read this article about identity theft and PIN numbers.  But it seems even with the extra precautions, we the consumers remain vulnerable.

Seems to me these “no I.D. required” and “no signature required for minimum purchase” has become a fast and easy way for credit card and debit thieves to takeadvantage of the situation while making it a great inconvenience for paying customers. So much for, “makes it convenient for the customer” and “makes it fast and easy for everyone.”

Makes me wonder what these banks and credit card companies can do to protect their customers. 😦






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