Credit Card Fraud!!

[NeedaKeepah]

I work for a big bank and would like to comment and offer advice.

Federal Regulation E is what protects you as a consumer from being defrauded electronically. It covers transactions presented to checking accounts via ACH (routing and acount number) and through Check or Debit cards. It also covers credit card transactions.

It is your responsibility as a customer to report any unrecognized/unathorized activity within 60 days, otherwise your bank/CC company does not have to file a dispute, and most will not.

It limits your liability to a maximum of $50.00, many banks/CC companies will further increase that and offer a $0.00 liability and eat the $50.00 if needed. I know that is the policy at my bank.

Striperman, you are indeed covered when using a debit card, if your bank says different.......move your accounts. Just rememer that the 60 day limit for claims is universal. ALWAYS CHECK YOUR STATEMENT!!

As far as ID theft the Federal Trade Commission has jurisdiction over it. Here is the web address, http://idtheft.gov/

Most companies also offer some kind of protection and may also give it to you free if you have been affected.

Security/Privacy breaches almost exclusively take place at a third party like a store, TJ Maxx anyone??

Companies would love to shut all these folks down, disputes cost money after all.

If anyone has any questions, PM me, I can't say what bank I work for or anything but if I can help in any way, I would be more than happy to do that.

[Bob Thomas]

Needakeepah...

Would my case warrant "IDTheft?" Reason I ask is that in the "Front-line" law enforcement field, if we get a suspect, it is just a "Larceny" charge. Would obtaining and using credit cards be "IDTheft" or simple larceny, monetary amout depending?

Thanks for the info. We'll see how the company handles this as it's my first personal case.

[NeedaKeepah]

Bob, if just CC info was used then it really wouldn't be ID theft. ID theft is when someone start assuming your identity, applying for or opening accounts, cell phone, even drivers license. You may want to explore just to make sure this isnt happening. You can check with all 3 credit agencys to see if there were any accounts opened or applied for that you don't know about. You can even request a "credit block" meaning that a note would be placed that no new credit e issued without further contact from yourself. Being in law enforcement you could prob run your name to see if any official IDs have been issued anywhere.