Home Forums FineTunedMac Community Lounge Oink Oink, You Banks, Oink Oink

Jon having a been personally involved in an identity theft situation, I must point out that every fraudulent transaction in this case was made possible because the perpetrator convinced the merchants employee to override the PIN number so the transaction could go through. Thus the merchants agent was complicite in the fraud and it seems to me perfectly reasonable the merechant should have been charged a fee as well as the amount of the charge itself.

There is another side to this story too. Had The transactions a been made with a charge card, by law the cardholders loss would have been limited to $50, but because a it was a debit card there is no legal limit on the card holders liability. In this case, the bank was unable to fully recover the loss due to time limits so the cardholder ended up losing over $5,000. The moral of this story is the debit/ATM cards are riskier to use than cash or credit cards.