TELECOM Digest OnLine - Sorted: Re: Worst Phishing Fraud Attack Ever! 40 Million Cards Affected

Re: Worst Phishing Fraud Attack Ever! 40 Million Cards Affected

mc (mc_no_spam@uga.edu)
Tue, 21 Jun 2005 16:45:26 -0400

> One credit card company reacted to this yesterday afternoon by
> cancelling my credit card (with no prior notice) while my wife was in
> the middle of a shopping trip. No fraudulent charges had been
> attempted; they just felt it had been "compromised."

> This could be jolly inconvenient for travelers! Are credit cards
> liable to be yanked at any time because of security breaches? Is that
> how the industry is going to start reacting?

> [TELECOM Digest Editor's Not: They are, and yes it is. Customer incon-
> venience is not a big issue with them when they are threatened with the
> possible loss of a few dollars in fraud. PAT]

Ah, the noose around their own necks! Between loan-shark practices of
raising interest rates sharply on little notice, and this new practice
of cancelling cards at the drop of a hat, they're quickly losing our
confidence. Maybe we *will* learn to live without credit cards.

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