Thursday, January 30, 2014

Credit Card Hackers Steal Small
Amounts From Lots of People!

This is a great reminder - a must read!

That $9.84 charge on your bill may be fraud


With all the stories of major retailers losing millions of credit card account numbers, you are probably scouring your monthly bills looking for fraudulent charges like a $700 plane ticket or $600 television you didn't buy. That might be a big mistake. One common way credit card hackers steal commit fraud, and get away with it, is to avoid getting greedy. Through the years, they've found it's much easier to steal a little money from a lot people, rather than a lot of money from a few people. For example: It's much easier to sneak a $10 charge on 10,000 cards than a $10,000 charge onto 10 cards, but the haul is the same.

Big-ticket charges for electronics or airfare stick out like a sore thumb on a credit card bill. Busy consumers are much less likely to spot a small charge, or they might even decide a tiny Woman surprised (© Purestock/SuperStock)fraud isn’t worth the phone call to get it item removed, and to face the hassle of getting a new card. Hackers, as always, prey on human nature. There seems to be something magical about the $10 threshold.


This post comes from Bob Sullivan at Credit.com.

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