Is it worth it? (go after credit card fraud people)

[Brian]

A couple years ago we had a credit card and some cash stolen out of our house. As it was a card we didn't use often, we didn't notice right away until I sat down with my wife to ask her why she was spending so much. Called the credit card company, who was happy to simply write off the charges - I could have ignored it at that point. But we also called the local police (who came out and gave my wife a hard time about keeping cash and a credit card unsecured in a drawer - he was correct, but it wasn't exactly the helpful neighborhood cop scenario, LOL). They asked for names of people who had been in the house. I'm not sure how far it would have gone after that if I didn't get involved personally.

I was really really angry that it may have been someone we knew (turned out it was), so I called all the local stores asking for video (they did not give to me, but when I forwarded the info to the detective, he did follow up and receive some of it). I also went to the trouble to use google maps to create a map of every transaction, and cross referenced that against the home addresses of everyone who had been in our house. It was very telling.

Long story short - after a lengthy process that was messy due to who it was, the person was arrested, and plead out to a deal that included paying us back all the cash that was stolen as well as reimbursing the credit card company/merchants (not sure which) for all the charges.

Felt very good. If it weren't for the fact it was ultimately resolved, I would still be bothered by it today.

Now my wife locks up her spare cash and cards - or at least she's supposed to.

[brianakell]

Awesome!

I believe the merchant eats it not the CC company. Pursue as much as possible, and merchants everywhere thank you.

CC companies dont lose money, they pass it on. For instance, if you have a CC terminal that someone hacks, and steals card numbers from, the merchant is liable, not the CC processor. And any disputes, even after merchant's death, their kids are liable for. Yes it reads that in some merchant agreements.

[rondog]

Sorry, like everyone said, won't nobody do shit about it. And if you knew EXACTLY who did it and you got justice yourself, guess who'd go to jail? Remember all this when you hear politicians preaching about how much they care about identity theft and how they're going to crack down on it. Fuck the fucking fucks. Thieving bastards.

[sniper7]

I wouldn't go after them personally. I have too much to lose. Now if they took everything from me...then I might sing a different tune.

Ive been at work the last couple days but i think I'll at least call the sheriff there and see wha they say. If they tell me to call the local police I might feel them out especially since I have the address it was shipped to.
pore than likely I'll end up getting nowhere and wasting a little bit of time, but at least I tried to get some justice.

[Great-Kazoo]

Awesome!

I believe the merchant eats it not the CC company. Pursue as much as possible, and merchants everywhere thank you.

CC companies dont lose money, they pass it on. For instance, if you have a CC terminal that someone hacks, and steals card numbers from, the merchant is liable, not the CC processor. And any disputes, even after merchant's death, their kids are liable for. Yes it reads that in some merchant agreements.

CC compamy eats is, acceptable loss. Not the merchant. IF business got stuck for it, they'd no longer accept CC's.

[ChrisC]

CC compamy eats is, acceptable loss. Not the merchant. IF business got stuck for it, they'd no longer accept CC's.

As a business with a merchant account I can tell you the merchant will eat it as a charge back. As soon as you notify your credit card company there is an issue with the charge they immediately seize the funds from the merchants account and then hold them until they determine the outcome. Once they verify the charge is fraudulent they will keep the money and the merchant is the one that is out. It is the risk a merchant takes accepting credit cards but in the current business environment it is very difficult to do business and not accept credit cards.

[Great-Kazoo]

As a business with a merchant account I can tell you the merchant will eat it as a charge back. As soon as you notify your credit card company there is an issue with the charge they immediately seize the funds from the merchants account and then hold them until they determine the outcome. Once they verify the charge is fraudulent they will keep the money and the merchant is the one that is out. It is the risk a merchant takes accepting credit cards but in the current business environment it is very difficult to do business and not accept credit cards.

Our CC / card reader account covered our losses. Checks were the problem, at the time. Now most of NoCo (Ft, Collins, Windsor, Greeality) do not accept checks in a majority of business. Wonder what will replace the CC, with the rampant fraud & theft issues.

[rbeau30]

This is a reason why I NEVER use my pin number at the point of sale. Use the Visa/Mastercard part of the debit card. If someone uses your PIN number with a skimmed card for nefarious reasons you won't get that money back.