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Company Credit Card Fraud

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Tyrone Said:

If someone charges to your credit card and its fraud, who investigates? Me or my credit card company?

We Answered:

call your credit card company and place a claim...they will investigate the item and issue you a new card.....every card company has different levels of responsibility .....usually the first 500 $ charged are protected by your CC company....then the rest is up to you.

Sylvia Said:

Is there a federal board to complain about a credit card company ?

We Answered:

This would be a good site to start your quest.

Dan Said:

Credit Card Fraud, Company Policies - Prevention and Prosecution?

We Answered:

most banks do employ software to identify significant fraud threats (ie waaaay out of area purchases, purchases outside normal purchasing patterns and the like). it's the ones that look like normal purchases and patterns that are missed by the software.

As to chasing, identifying and prosecuting the bad guys:

there are several issues:
1) identifying the bad guys - unless the card is flagged and the used in a place where the bad guy can be apprehended, it is almost impossible to find and arrest them after the fact.

2) location - if the bank is in NY and the crime takes place in California, it is tough to file a criminal complaint and then, if they do make an arrest, appear in court as a witness without incurring significant expenses.

3) size - the feds (Secret Service mainly) are only interested in large dollar crimes. someone swiping a card and buying 30 gallons of gas and a carton of cigarettes before the card is frozen is not exactly a priority for the feds.

Most banks are willing to accept a certain amount of loss via credit card fraud and are insured for losses above a certain amount as long as they show due diligence on identifying, limiting and preventing credit card fraud.

In addition, banks make a ton of money on credit cards (average interest rate is 15% and monthly balance is $2000ish) and so far the losses have not be sufficient to make them aggressively identify, limit and chase fraudsters. When they do incur those level of losses, things will change rather dramatically (and I doubt that we will like it)

Ruth Said:

found out it is an insurance against fraud (credit card etc) company is CPP (homecare) in york?

We Answered:

This isn't a question, this is a statement. And it's so disjointed, it's not comprehensible.

Evelyn Said:

Where do merchants to report credit card fraud?

We Answered:

Unfortunately, you don't have many options that'll get results without spending more money than you've lost.
One option might be Small Claims Court. Check about filing fees in your area.

All the credit card company will do is handle the refund to the mischarged person. They won't likely pursue the fraudster in this chase for what, to them, is a small amount.

You may be able to file the charge on your business insurance as a theft. And you may be able to report it on your taxes as a theft or bad debt; check with your accountant.

Anita Said:

I need some legal advice on credit card fraud from a major credit card company.?

We Answered:

I hate to play the role of Devil's Advocate, but check over the bills your wife has paid for or ask Capital One to send reprints of them to you (unless you can reprint them online from their website). See what the charges are for, and then consult your cardmember agreement that Capital One gave you.

The reason I say all this is:

A) If your cardcharges interest on the average daily balance, there may still have been some accruing interest (though I would have thought only one months' worth and not eight months worth).

B) If the charges being applied on Capital One are for some services you have enrolled in, or for subscriptions (ie - Verizon cellphone charges) then Capital One cannot prevent charges from being applied. In those cases, you must call the billing companies and advise them your Capital One is cancelled and therefore you wish to stop charges from being applied to that card. Since the billing arrangement for companies like Verizon, etc. are part of your contract, Capital One cannot intervene by disallowing charges as they would be guilty of breach of contract. You as the cardholder must call those companies to stop charges from being applied.

3) If it was all Capital One error, you should be able to recoup the last three months worth of payments. Anything over 90 days old which has not been contested is considered valid by the contract which you became part of when you activated and used your Capital One card.

....I am not saying that you are in the wrong, nor am I saying Capital One is a glowing example of customer service and customer relations. Unfortunately, the written contracts to which you and they are bound likely state specifically items such as the 90-day rule, and the inability to reverse pre-authorized charges and as such, seeking legal action will likely fail.

That being said, I am not one to sit back and say "too bad so sad" to someone who has been screwed over royally. So - good luck, and I hope for you a fair resolution. Your Ad Here

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