Comments on: An Identity Theft Lesson for Christmas Retailers (and shoppers)! http://www.sileo.com/an-identity-theft-lesson-for-christmas-retailers-and-shoppers/?utm_source=rss&utm_medium=rss&utm_campaign=an-identity-theft-lesson-for-christmas-retailers-and-shoppers Identity Theft, Data Breach, Privacy, Trust, Business Survival Thu, 22 Jul 2010 21:51:42 +0000 http://wordpress.org/?v=abc hourly 1 By: John http://www.sileo.com/an-identity-theft-lesson-for-christmas-retailers-and-shoppers/comment-page-1/#comment-76 John Mon, 15 Dec 2008 13:50:40 +0000 http://www.sileo.com/?p=45#comment-76 James, Point taken. This does protect the merchant as well and they have both a responsibility and a vested interest in training their employees to ask for ID. And it really protects the credit card issuing bank, who is the actual financial victim of the crime. They are the ones that end up writing off the bad debt. Unfortunately, many American consumers don't check their credit card statement regularly enough to catch the fraud in the time frame set forth by the credit card companies that releases the card user from liability. In other words, if you don't report the fraud within 60-90 days (for most cards), which is the norm for many cases of ID theft, then the card company does not return the money stolen. You are responsible for it. That is the particularly infuriating thing about identity theft -- there are a string of victims along the line, and the costs go way beyond money to wasted time and emotional hardship. Thanks for your comment. John James, Point taken. This does protect the merchant as well and they have both a responsibility and a vested interest in training their employees to ask for ID. And it really protects the credit card issuing bank, who is the actual financial victim of the crime. They are the ones that end up writing off the bad debt. Unfortunately, many American consumers don’t check their credit card statement regularly enough to catch the fraud in the time frame set forth by the credit card companies that releases the card user from liability. In other words, if you don’t report the fraud within 60-90 days (for most cards), which is the norm for many cases of ID theft, then the card company does not return the money stolen. You are responsible for it. That is the particularly infuriating thing about identity theft — there are a string of victims along the line, and the costs go way beyond money to wasted time and emotional hardship. Thanks for your comment.

John

]]> By: James S. Huggins http://www.sileo.com/an-identity-theft-lesson-for-christmas-retailers-and-shoppers/comment-page-1/#comment-75 James S. Huggins Sun, 14 Dec 2008 12:51:32 +0000 http://www.sileo.com/?p=45#comment-75 I'm unclear on this post. I have lost my credit card once. The thieves ran it to max. But, in terms of DIRECT cost, my DIRECT cost was zero. I told the credit card company I'd lost my card, together on the phone we reviewed the charges of the past 72 hours. I identified those which were mine and those which were not. I promptly received a replacement card and the charges which were not mine were removed from my account replacing my line of credit. I was not even charged the $50 the law permits. I'm certainly not saying there was no cost. I'm saying that asking for your ID maybe protects you a little. It protects the merchant oodles more. The merchant isn't doing this for YOUu. They are doing this for THEM. Both national law and credit card company practices protect the consumer in this particular situation of credit card misuse. The immediate victim of this particular crime is less the consumer and more the merchant. I’m unclear on this post. I have lost my credit card once. The thieves ran it to max. But, in terms of DIRECT cost, my DIRECT cost was zero. I told the credit card company I’d lost my card, together on the phone we reviewed the charges of the past 72 hours. I identified those which were mine and those which were not. I promptly received a replacement card and the charges which were not mine were removed from my account replacing my line of credit. I was not even charged the $50 the law permits. I’m certainly not saying there was no cost. I’m saying that asking for your ID maybe protects you a little. It protects the merchant oodles more. The merchant isn’t doing this for YOUu. They are doing this for THEM. Both national law and credit card company practices protect the consumer in this particular situation of credit card misuse. The immediate victim of this particular crime is less the consumer and more the merchant.

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