Credit card fraud and security

[festive]

So about 79% of all credit card fraud is via remote purchase.

Case in example recently last week, i passed on my credit card to a family member to book some flights which didn't include me.
Operator on phone - 'we just need to speak to the cardholder to confirm this transaction'
Me - Hello? (yes i have a male voice and the cardholder name i guess could be male)
Operator - Hello we just wanted to check you are ok for the flights of X to be deducted from your card.
Me - Yes that's fine.

So i wasn't asked my name to verify me. Let alone confirm my card etc. Oh dear.

Boom. That's todays credit card fraud checks passed no provision for a one time mfa code or anything else just a mans voice going 'yeah that's fine'.

So as i was saying 79% of uk cc fraud is via online transactions. Guess the penny hasn't dropped yet.

 

[Dork Lard]

I don't get your point?

Are you trying to say that remote purchases with a credit card shouldn't be possible?

 

[festive]

I don't get your point?

Are you trying to say that remote purchases with a credit card shouldn't be possible?

Ah ok my point being the whole policy around online credit card transactions is till stuck in the dark ages. We should already sure be able to quote a one time number or something similar to ensure you are the genuine card holder. I see it for some online systems but not many at all. Seems the banks are just not investing enough in security despite them haemorrhaging money from fraud.

 

[AngleEyes]

So about 79% of all credit card fraud is via remote purchase.

Case in example recently last week, i passed on my credit card to a family member to book some flights which didn't include me.
Operator on phone - 'we just need to speak to the cardholder to confirm this transaction'
Me - Hello? (yes i have a male voice and the cardholder name i guess could be male)
Operator - Hello we just wanted to check you are ok for the flights of X to be deducted from your card.
Me - Yes that's fine.

So i wasn't asked my name to verify me. Let alone confirm my card etc. Oh dear.

Boom. That's todays credit card fraud checks passed no provision for a one time mfa code or anything else just a mans voice going 'yeah that's fine'.

So as i was saying 79% of uk cc fraud is via online transactions. Guess the penny hasn't dropped yet.

How did they get your number?
Usually with phone purchases, the purchaser needs to have the card in their hand for the details.

With online purchases, a lot of banks are using a one time 'verification' code to your mobile phone.

My bank has been doing that for about a year.

 

[festive]

How did they get your number?
Usually with phone purchases, the purchaser needs to have the card in their hand for the details.

With online purchases, a lot of banks are using a one time 'verification' code to your mobile phone.

My bank has been doing that for about a year.

Festive family caller was on blower to customer sales who just said 'can you pass me to the card holder'

How much are we as customers paying for this fraud?

 

[big-all]

forgive me iff i have got this wrong?? but the conversation was with the retailer and not the card company so the retailer's loss iff anything goes wrong
it would need the system between retailer and card company to generate somthing to your email or phone number

 

[AngleEyes]

Festive family caller was on blower to customer sales who just said 'can you pass me to the card holder'

How much are we as customers paying for this fraud?

So they had the card in their hand.
That's normally sufficient, on the phone.