Credit Card Fraud

[jzt]

This was sent to me. Just thought I would pass it along.

ATTORNEY'S ADVICE -- NO CHARGE

A corporate attorney sent the following out to the employees in his
company.


1. The next time you order checks have only your initials (instead of
first name) and last name put on them. If someone takes your checkbook,
they will not know if you sign your checks with just your initials or your first
name, but your bank will know how you sign your checks.


2. Do not sign the back of your credit cards. Instead, put "PHOTO ID
REQUIRED".


3. When you are writing checks to pay on your credit card accounts, DO NOT
put the complete account number on the "For" line. Instead, just put the
last four numbers. The credit card company knows the rest of the number,
and anyone who might be handling your check as it passes through all the check processing channels won't have access to it.


4. Put your work phone # on your checks instead of your home phone. If you
have a PO Box use that instead of your home address. If you do not have a
PO Box, use your work address. Never have your SS# printed on your checks.
You can add it if it is necessary. But if you have it printed, anyone can
get it.


5. Place the contents of your wallet on a photocopy machine. Do both sides
of each license, credit card, etc. You will know what you had in your
wallet and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place. I also carry a photocopy of my passport when I travel either here or abroad. We've all heard horror stories about fraud
that's committed on us in stealing a name, address, Social Security number,
credit cards.


Unfortunately I, an attorney, have firsthand knowledge because my wallet
was stolen last month. Within a week, the thieve(s) ordered an expensive
monthly cell phone package, applied for a VISA credit card, had a credit
line approved to buy a Gateway computer, received a PIN number from DMV
to change my driving record information online, and more. But here's some
critical information to limit the damage in case this happens to you or
someone you know:


1. We have been told we should cancel our credit cards immediately. But
the key is having the toll free numbers and your card numbers handy so you
know whom to call. Keep those where you can find them.


2. File a police report immediately in the jurisdiction where your credit
cards, etc., were stolen. This proves to credit providers you were
diligent, and this is a first step toward an investigation (if there ever is one).

But here's what is perhaps most important of all : (I never even thought
to do this.)


3. Call the 3 national credit reporting organizations immediately to place
a fraud alert on your name and Social Security number. I had never heard
of doing that until advised by a bank that called to tell me an application
for credit was made over the Internet in my name. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.


By the time I was advised to do this, almost two weeks after the theft,
all the damage had been done. There are records of all the credit checks
initiated by the thieves' purchases, none of which I knew about before
placing the alert. Since then, no additional damage has been done, and the
thieves threw my wallet away this weekend (someone turned it in). It seems
to have stopped them dead in their tracks.


Now, here are the numbers you always need to contact if your wallet,
etc., has been stolen:
1.) Social Security Administration (fraud line): 1-800-269-0271
2.) Equifax: 1-800-525-6285
3.) Experian (formerly TRW): 1-888-397-3742
4.) Trans Union: 1-800-680-7289


We pass along jokes on the Internet. We pass along just about everything.
But if you are willing to pass this information along, it could really
help someone that you care about.

[Hilly]

Not only will I pass this along, I will print it out for myself and follow this great advice.

Thanks!

[Best Teach]

Just so you know, you aren't allowed to put "photo id required" on your credit card--just call and ask if you don't believe me. There is no way to verufy a signature and then really ANYONE can use your card.

[happydad]

Originally Posted by Best Teach

Just so you know, you aren't allowed to put "photo id required" on your credit card--just call and ask if you don't believe me. There is no way to verufy a signature and then really ANYONE can use your card.

I don't sign my credit cards or put anything on the back. The clerk (if they know what they are doing) will then ask for picture ID.

[Best Teach]

Originally Posted by happydad

I don't sign my credit cards or put anything on the back. The clerk (if they know what they are doing) will then ask for picture ID.

According to credit card agreements, you aren't supposed to do that. If in fact your card gets stolen, ANYONE can then sign it and have a good time until you discover it is gone.

[Toad]

I'm not so sure why the big concern here. We have had our credit card number stolen. We simply call the credit card company, they reverse all the charges, no problem. It happens so often they hardly ask any questions. They seem to be more concerned about getting us a new card so we don't get a card from someone else.

[Mrs. Hein]

Originally Posted by Best Teach

Just so you know, you aren't allowed to put "photo id required" on your credit card--just call and ask if you don't believe me. There is no way to verufy a signature and then really ANYONE can use your card.

We've done this for 10 or more years, and never had a problem. A picture ID with my signature can be used to verify the charge slip signature quite easily. ALso, with "Please ask for photo ID" written in black Sharpie, there's no room for some fraudster to slip a new signature on there.

I'm not disagreeing with you that the credit card company doesn't like it. I'm just suggesting that it's done quite often and without repurcussion.

[rogelah]

You should also know that the company that verifies credit card purchases has various levels of verification. It starts with credit card number and last name (which is the most expensive level) and can require expiration date, etc. which cost less.

It is incumbent on the seller to verify dara items that are not paid for. It surprised me when I found out that providing more verification data to the card verifier cost less but there are many who either do not know or for some quirky reqason choose not to do so.