On BBC news this morning a credit card fraud expert suggested it's possible to set up a credit card password for internet dealings.
This is the first time I've heard of this and I'm wondering how it can possibly work as I have never seen any facility on any web site asking for credit details asking for a password. I'm wondering just how it can work, if hackers/fraudsters can get hold of a set of random numbers surely the can get a password in the same way.
Yep, mine is also password protected, but it depends on the individual web site as to whether it is used. On completing a purchase after entering your card details you are then asked to enter a random number of characters from your password through a link to your bank. At present not many sites subscribe to this. Hopefully the number will increase.
I think its down to individual companies, both my cards are password protected for online transactions, but it was the sites I used that asked me to do it initially, one was Tesco Groceries and I think the other was BT. Ventanas - both mine ask for a password I have nominated, good job I made a note of them in my 'little book', so each bank may have a slightly different method of execution but the concept is the same.
I watched the item on BBC News today and it included an interview with the Conservative MP David Davies who has been one of the many victims of credit card fraud. The fraudulent use of CC's for on-line gambling was referred to during this item and there was a call for more involvement of the police or an alternative specialist department to combat this fraud.
As one of these victims myself I tried to find out how someone fraudulently using someone else's card would obtain any possible winnings from the Casino. To my innocent mind I thought there would be a definite trail back to the crook.
I have been unable to establish the method(s) the Casinos use to credit the gambler with his or her winnings until now