Anne & Lynn Wheeler wrote:
*Irish Bank Debit Card Skimmers Net €1m*
http://www.epaynews.com/index.cgi?survey=&ref=browse&f=view&id=121179135013743148197&block=
from above:
Most of the withdrawals took place at the end of April and early May
2008. Many of the victims contacted their banks to notify them of the
withdrawals, as the banks’ fraud detection systems had failed to spot
the suspicious activity.
I don't know what the policy is in Ireland, but here in the USA
there is no stop loss on debit cards so the banks are not
obligated to make good on fraudulent withdrawals. I believe that
most have out of fear of bad PR, but you have to fight for it if
it is just a few that it happens to. If this happens too much
then people might stop using debit cards. I have advised my
mother, 87, to not use them as she is getting a little slow on
the uptake and might miss something like this if it happened to her.
Now to show how screwy the system is, I was shopping the other
day and the power went off in the grocery store I was at. They
had backup power so they were able to check out people; however,
they couldn't use debit cards, except.... Well, the screwy thing
was if you entered the charge at terminal as a credit card, even
when it was only a debit card, it would accept it. I checked my
bank, and sure enough the charge showed as a POS charge!
I think the logic is a little screwy and might be able to be
exploited though I'm not sure how at the moment.
Best,
Allen
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