Such as I just gave a pizza place my name, card number, expiration, security code and zip. The same goes for countless other companies where I’ve done the same. What’s to stop employees from using this information to make fraudulent purchases? Or does it happen and just hasn’t happened to me yet?
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I’ve had my cc number stolen 3 times in the past two years. Twice online and once in person (I think it was a gas station but not sure). All three times I was notified by the credit company and the charges were immediately reversed
Most businesses either do online purchases securely through a payment provider or using their eftpos machine in store, which the staff and business can’t see your details
Some businesses may do credit card payments over the phone which I guess the staff member could steal write it down, but the risk vs reward is very small and not worth it.
Credit card fraud is huge and the banks have this built up into the costs and people generally get reimbursed
people have swapped a [QR code for parking](https://mashable.com/article/beware-qr-code-scams) with their own to steal the informatio
Here in the EU, I have to either put in my PIN code if I am making a purchase of over 35-40 USD equivalent or I have to use my bank’s app to verify the purchase it it is made through the Internet.
>[Americans reported 271,823 cases of credit card fraud in 2019.](https://r.search.yahoo.com/_ylt=Awr48wq_A01jetQwIwhXNyoA;_ylu=Y29sbwNncTEEcG9zAzEEdnRpZANMT0NVSTA1NF8xBHNlYwNzYw–/RV=2/RE=1666020415/RO=10/RU=https%3a%2f%2fwww.self.inc%2finfo%2fcredit-card-fraud-statistics%2f%23%3a~%3atext%3dAmericans%2520reported%2520271%252C823%2520cases%2520of%2520credit%2520card%2520fraud%2cfor%2520payment%2520worldwide%2520reached%2520%252427.85%2520billion%2520in%25202018./RK=2/RS=j68P2KN79rpkcFsRXiLmBNGoa1w-) This is an increase of 72.4 percent from 2018, when there were 157,715 cases of credit card fraud reported. Losses from fraud involving cards used for payment worldwide reached $27.85 billion in 2018.
[There have been 230,937 credit card fraud reports filed in *the first two quarters* of 2022.](https://r.search.yahoo.com/_ylt=Awr48wq_A01jetQwKwhXNyoA;_ylu=Y29sbwNncTEEcG9zAzEEdnRpZANMT0NVSTA1NF8xBHNlYwNzcg–/RV=2/RE=1666020415/RO=10/RU=https%3a%2f%2fmoneytransfers.com%2fnews%2fcontent%2fcredit-card-fraud-statistics/RK=2/RS=7DIrKt5.lP9.2oBg5plc4uIx6Lw-)
Taking 2019 data thats 744 cases of credit card fraud every single day.
Two things, risk to reward.
Sure, someone you give that info to could place a few orders fraudulently. But what do they get out of it? A few hundred dollars worth of stuff, at the risk of years in prison.
Any rational person will see that as a horrible venture.
Outside of drug addicts who aren’t thinking rationally, it’s very unrewarding and risky to be a low-level thief.
Most employees are busy with their jobs and don’t have time to pull off credit card fraud like you describe. The risk is far too high and the rewards far too low to bother when they’ve just dealt with five other calls in the past ten minutes exactly like yours.
Credit card fraud is more common than most people realize. It’s rare to meet someone who has had credit cards for a number of years without having had to deal with fraud.
Fraudulent charges are almost always easy to fix from the cardholder’s perspective. All you do is call them (or more often than not, they call you!) and tell them a specific charge isn’t valid. Every single time it has happened to me they removed it from the statement and issued a new card with no questions asked.
By law, maximum liability to the cardholder can’t exceed $50 and even then almost all cards offer $0 liability. Card companies are generally ok incurring additional risk and loss due to fraud in exchange for ease of use. The easier it is to use a card, the more you use it. The more you use the card, the more of those sweet, sweet swipe fees are collected.
Card issuers are highly incentivized to hide this problem from you. They’ll just eat the losses. They know that if they implement strict fraud detection that forces you to validate charges at the point of sale or if they make it a pain in the ass to remove fraudulent charges from your statement, you’ll stop using that card in favor of another card that isn’t a hassle. At that point they go from making money from your account to losing money on it.
Because most people are actually decent and honest and don’t want to steal. If significantly more people were dishonest the system wouldn’t be able to work.
Larger companies have to follow compliances that make credit card theft not only difficult for the company, but also if the company has a data breach, hackers aren’t able to obtain credit card information.
The pizza place probably isn’t collecting your credit card number. Unless your a large corporate entity, you use a third party to handle your credit card transactions.
Large corporations aren’t interested in engaging in small time credit card theft and credit card processing companies aren’t going to risk their entire business to engage in credit card theft.
Additionally, these companies don’t actually store your credit card info, they store a token that let’s them (and only them) process transactions on your credit card.
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