Friday, October 27, 2006
Once Upon A Time #21
If I remember correctly, during the last century, which was
only six years ago, the signature on the back of your credit
card meant something......When was the last time some store
clerk asked to see the back of your card and confirm it with
your signed purchase receipt?.....
In order to speed up the process and time to conduct a
sales transaction, you now just scan the card on some
counter top device and return the card to your wallet......
You even sign your "receipt" electronically, in many times
out of the sight of the store clerk......
It appears that everyday credit card fraud is now just a
part of the "cost of doing business" that the banks
no longer care......The only thing they have forgotten in
their quotation is the fact that the card user never does
really recover for the fraudulent use of his/her card by
some other means.......Pumps
only six years ago, the signature on the back of your credit
card meant something......When was the last time some store
clerk asked to see the back of your card and confirm it with
your signed purchase receipt?.....
In order to speed up the process and time to conduct a
sales transaction, you now just scan the card on some
counter top device and return the card to your wallet......
You even sign your "receipt" electronically, in many times
out of the sight of the store clerk......
It appears that everyday credit card fraud is now just a
part of the "cost of doing business" that the banks
no longer care......The only thing they have forgotten in
their quotation is the fact that the card user never does
really recover for the fraudulent use of his/her card by
some other means.......Pumps