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Q: Stolen Credit Card Registry ( No Answer,   3 Comments )
Question  
Subject: Stolen Credit Card Registry
Category: Business and Money > eCommerce
Asked by: atlascopy-ga
List Price: $10.00
Posted: 11 Aug 2004 09:29 PDT
Expires: 10 Sep 2004 09:29 PDT
Question ID: 386470
I run a business online and accept credit cards for purchases. While
most of my credit card customers are legitimate there are always those
few that I am uncertain about. Some are blatently fraud and I have
learned what to look out for. For those few questionable ones is there
a place I can call or a web site that has a database of stolen credit
cards? This would sure make my job a lot easier.
Answer  
There is no answer at this time.

Comments  
Subject: Re: Stolen Credit Card Registry
From: owain-ga on 12 Aug 2004 15:49 PDT
 
Credit card companies would be very concerned if a list of stolen
credit cards was freely available online, updated in real time. This
would be crucial information enabling thieves to stop using a card as
soon as it had been reported stolen, avoiding the risk of being
apprehended by a shopkeeper when a card authorisation request is
declined.

The best advice will probably come from your credit card payments
handler who should be able to advise you about real-time verification
and authentication procedures.

Owain
Subject: Re: Stolen Credit Card Registry
From: atlascopy-ga on 13 Aug 2004 07:31 PDT
 
Thanks Owain. Actually that's the first place I checked. They were of
little use and not very helpful. It would be nice thought if somebody
could come up with a solution to this mess. It's only going to get
worse.

Barry
Subject: Re: Stolen Credit Card Registry
From: joey-ga on 13 Aug 2004 20:02 PDT
 
Theoretically, the credit card companies already are doing what you're looking for.

As soon as someone knows his/her card is stolen, he would call the
credit card company, and they would mark it as stolen.  So, if a
customer used a reportedly-stolen credit card, you'd know it b/c it
wouldn't go through.  Any list of reportedly-stolen cards would thus
be redundant.

The best way, in my opinion, to try to reduce fraud is to ask for as
much information from your customers as possible (the three-digit code
printed on the back of the card, the billing zip code and phone
number, etc.)

If someone has stolen the physical card, he'd likely not know the
billing zip code and phone number.  If someone has stolen the number
electronically, he won't have the three-digit back-printed code.

--Joey

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