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Thread: Is it just Jamaica or other countries as well

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    Default Is it just Jamaica or other countries as well

    I wanted to know why when things like your visa debit card from scotia get compromised, and you can clearly see from your statement bill that it was use on amazon, ebay etc (online merchants) why is it the bank cant get info from them to know who and when what was bought and who it send to ( getting the user info and address etc)

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    Did you report your card lost or stolen before or after those transactions?

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    It happens all over the world, everyday constant. Credit cards are insecure by nature. Just report it as soon as you notice a issue. And stop using it so often.

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    Please pree the question carefully what I asked. Is not a case of reporting but more of the case of when you report and they too know that it was used on ebay, Amazon etc. That person who use it must have a account with the merchant and even if the info they have with merchant is wrong they must have sent whatever it is they bought to a shipping address. Now I want to know why can't scotia just link Amazon, eBay etc and say ok card number xyz was compromised on the xyz date and time can we get the person name and details who used it. In this way wouldn't they (the bank or police) could just pull up to the culprit house or work easily. And keep in mind most of these culprits have to sign upon receiving the goods they purchased illegally.

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    If reports are made after the transaction the banks will not do much... in some cases you end up paying... many persons use their card for fraud then report it so the bank will only act if you report it as it is stolen.

    Amazon etc cannot just hand over a person's details as that will break their privacy policy.

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    Its practically a constant fire fight. I amnot sure how they do it but I can guess there are thousands of fraudulent transactions a day from different cards and different people/accounts/countries etc

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    Quote Originally Posted by Minka View Post
    I wanted to know why when things like your visa debit card from scotia get compromised, and you can clearly see from your statement bill that it was use on amazon, ebay etc (online merchants) why is it the bank cant get info from them to know who and when what was bought and who it send to ( getting the user info and address etc)
    Quote Originally Posted by Minka View Post
    Please pree the question carefully what I asked. Is not a case of reporting but more of the case of when you report and they too know that it was used on ebay, Amazon etc. That person who use it must have a account with the merchant and even if the info they have with merchant is wrong they must have sent whatever it is they bought to a shipping address. Now I want to know why can't scotia just link Amazon, eBay etc and say ok card number xyz was compromised on the xyz date and time can we get the person name and details who used it. In this way wouldn't they (the bank or police) could just pull up to the culprit house or work easily. And keep in mind most of these culprits have to sign upon receiving the goods they purchased illegally.
    To address your question – the banks can and most likely do get the transaction details from the merchant (Amazon etc) whenever a fraudulent transaction is reported. This info is used in the fraud department for various purposes. They just don’t provide it to the customer for privacy and security concerns. Also in a lot of cases tracking down the culprit can be a logistical nightmare especially if the purchase took place in another country. Jurisdictions can be a nightmare to deal with and a lengthy process, especially if the country is not very cooperative.

    Quote Originally Posted by owen View Post
    It happens all over the world, everyday constant. Credit cards are insecure by nature. Just report it as soon as you notice a issue. And stop using it so often.
    Yea credit cards are definitely insecure - example: There is a tool in the wild that can guess your visa card number in seconds.

    http://arstechnica.com/security/2016...-just-seconds/

    However they are still the best option for purchases due to the additional protections they tend to offer + its the banks money and not yours (such as with a debit card).

    Quote Originally Posted by GPRS Internet View Post
    If reports are made after the transaction the banks will not do much... in some cases you end up paying... many persons use their card for fraud then report it so the bank will only act if you report it as it is stolen.

    Amazon etc cannot just hand over a person's details as that will break their privacy policy.
    Banks still do quite a bit when transactions are reported after they are made. Remember a card does not have to be physically stolen for it to be used in fraudulent transactions. So most times the consumer only finds out after the transaction is made that the card has been compromised. At which time when you contact the bank they will deactivate the card and should remove the fraudulent charge.
    Places Scotia add anti-consumer friendly terms like :

    If your card and/or
    Scotiabank Credit Card Cheques are lost or stolen, you will be liable
    for all debts resulting from their use until you have told us that they
    have been lost or stolen.
    Where as banks in other countries such as the US are forced by law to have a cap:

    Note most if not all banks in the US waive that $50 limit on CCs and even on debit cards to remain competitive with other card issuers.


    Quote Originally Posted by owen View Post
    Its practically a constant fire fight. I am not sure how they do it but I can guess there are thousands of fraudulent transactions a day from different cards and different people/accounts/countries etc
    ^ it is a logistical nightmare. However, note that not every fraudulent transaction made on a card goes through. All banks monitor (or should be monitoring) your spending habits (including locations) when the system sees something out of the ordinary it declines the transaction. So example:If I live in the US and a majority of my spend is in Florida, if all of a sudden my card is used in Georgia or New York my bank may decline the transaction(s) and prompt me to contact them or at least verify the transaction.
    Last edited by King_Jay16; Jan 23, 2017 at 10:41 AM.
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