Yep, AMEX is usually pretty on the ball WRT fraud.
Do note that EMV (aka Chip + PIN) cards are rolling out in the US this
year (finally). I already have my AMEX with the chip. IIRC, vendors are
shifting liability to merchants who do not have supported terminals in
October this year. The intent is to push them to upgrade to terminals
that support the new security features.
The EMV isn't perfect, but it does reduce fraud.
-Pete
On 2015-02-02 09:37, Mario Obejas wrote:
We complain enough here about immature systems, it's time for a kudo.
Yesterday I received a simultaneous fraud alert from Amex via text on
my cell, a phone call to my landline, and email.
Some thief did a test charge of $1, and then followed it up with a
$377 charge to an online store located in LA. I don't know how the
fraud algorithm figured out it wasn't us since we do live in an LA
suburb and the charge is not that out of line. OTOH, it's not
somewhere we bought before, not something we normally buy online, and
its probably a larger dollar amount than a person would normally buy
from that store. The Amex agent's words: "We didn't think it was you,
so don't worry, we declined it". I'm sure they have a countervailing
pressure to not annoy their customers with false positives. They asked
if we had the card in our possession. We do - it means someone has the
4 digit card security code, so time for another card. One day the
industry will widely adopt a "better" 2nd factor, but that's a subject
for another day.
So again, two kudos:
1. Simultaneous real time attempt to contact a customer on all
available channels
2. Accurate algorithm
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