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Discussion : New credit card fraud

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Total 3 comments


2007-05-26 14:56:08 -
http://news-credit.blogspot.com


2007-05-25 02:24:12 -
resopected sir,

i am a student doing PhD IN CUBER CRIME ,CREDIT CARD FRAUDS , IF U HAVE THE RELETED MATTER PLEASE SEND ON MY E-MAIL


H R MEENA


2007-05-24 10:58:30 -
Fraud crimes will continue to grow until banks exploit ID KEY (memory stick or card) system which will make both the signature and PIN number systems reliable as follows. Details on ID KEY system on website www.xwave.co.uk



ID KEY will activate printer to print ID sticker (small sticker with person's image and name printed on it) which can be attached to the document and countersigned to personalise signature. Chip and PIN system does not make entire signature system reliable the way personalised signature system will and hence is not good enough in combating fraud crimes. Current signature system is like passports without photos and that is why it is so difficult to deter and prosecute fraudsters. Why would anyone get tempted to misuse this system when they know that in the event of crime we will know who they are?



ID KEY will be needed to activate ATMs, Why would anyone get tempted to use stolen or skimmed cards when they know that ATM will not get activated without the use of Card Key Code stored in ID KEY?



*Chip and PIN card system is boosting ATM fraud because fraudsters now have option to skim cards and pick PIN numbers even from retail outlets rather than only ATMs.



Systems like Chip and PIN, biometric ID cards etc. will not make signature and PIN number system at ATMs reliable the way ID KEY system will and hence these systems will only make bad problems worse by diverting fraud crimes to other sectors.



Total 3 comments
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