Comments on: Funding Terrorism With Credit Cards http://www.merchant911.org/blog/index.php/2008/10/04/funding-terrorism-with-credit-cards/ Comments on credit card fraud from the E-Commerce Merchant point of view by Tom Mahoney, Founder and Director of Merchant911.org Fri, 13 Jan 2012 06:40:43 +0000 hourly 1 http://wordpress.org/?v= By: Tom Mahoney http://www.merchant911.org/blog/index.php/2008/10/04/funding-terrorism-with-credit-cards/comment-page-1/#comment-1462 Tom Mahoney Sun, 05 Oct 2008 15:02:21 +0000 http://www.merchant911.org/blog/?p=154#comment-1462 Yes, I have been saying that, and as every month goes by and every breach gets announced I believe it more. It's certainly no secret that the U.S. economy is in deep trouble but the card companies just continue to put out more and more offers full of hidden language to the people that can least afford it. Credit card debt is an unsecured loan. Unsecured and under secured loans are what got us into this mess over here. You'd think the card companies would have gotten a message from all this. With the bad debt and the bad security, how long can it last? Yes, I have been saying that, and as every month goes by and every breach gets announced I believe it more. It’s certainly no secret that the U.S. economy is in deep trouble but the card companies just continue to put out more and more offers full of hidden language to the people that can least afford it.

Credit card debt is an unsecured loan. Unsecured and under secured loans are what got us into this mess over here. You’d think the card companies would have gotten a message from all this. With the bad debt and the bad security, how long can it last?

]]> By: Adrian http://www.merchant911.org/blog/index.php/2008/10/04/funding-terrorism-with-credit-cards/comment-page-1/#comment-1461 Adrian Sun, 05 Oct 2008 08:08:22 +0000 http://www.merchant911.org/blog/?p=154#comment-1461 I don't know what the position is in the USA but here in France we have been informed that, in an attempt to curb the incessant upward trend in credit card fraud, we will now have to supply our birth date in addition to cvv2 every time we make a purchase. That's a tough one for criminals to crack (NOT)! Seems to me that banks are really scraping the barrel now. It's like an admission that the credit card system has failed ...which is something you have been saying for a long time Tom. I don’t know what the position is in the USA but here in France we have been informed that, in an attempt to curb the incessant upward trend in credit card fraud, we will now have to supply our birth date in addition to cvv2 every time we make a purchase. That’s a tough one for criminals to crack (NOT)! Seems to me that banks are really scraping the barrel now. It’s like an admission that the credit card system has failed …which is something you have been saying for a long time Tom.

]]>