By David Riewe
Credit card fraud is a fast increasing crime in the world.
International Credit Card holders are mostly the victims of
this unauthorized access to their accounts. Let’s take a
look of the problems faced by international credit cards.
1. Repetitive use of credit card numbers. After a credit card
number has been used and disregarded, say cancelled, credit
card companies would reissue the same number to other
cardholders. The personal identification numbers (PIN) is
changed as well as the credit cardholder’s personal
information. But it still bears the same credit card number.
2. Low standards when it comes to the use of cards by the
participating merchants. This is a common problem encountered
by international credit cardholders. Employees of the
participating merchants have the full access to the account
number as well as the security number of the card.
3. Account Statements given out by credit card companies
contains less information about the participating merchant. It
does not include relevant information about the vendor that
charged any transaction on the credit card.
4. Unreliable blocking functions. Once a card loss is
it will still take months for the credit card companies to
the transactions being made through the stolen or lost credit
5. Lack of validation software. Participating vendors should
have better validation software installed on their computer
6. Consumer unfriendly policies on fraud management. The
policies on the present fraud management take the blame on the
cardholders though not directly stipulated. This means that
policies on the fraud management of international credit card
companies protect not the consumers but the company.
7. Lax standards on investigation about fraudulent
transactions. This is the sad part for the victims of fraud
through their credit cards. Getting the suspects charged
proven guilty of fraud seems to take on slowly.
8. Credit card fraud is usually committed through online
transactions. This means that credit cardholders are not
protected with the authorized or unauthorized use of their
cards on purchases or services paid online.
9. Most of the companies that typically appear on charges are
those associated with pornography industry. These companies
the ones that accept transactions even without verifying the
10. Most of the banks’ system is not compatible with other
international credit card companies for the e-commerce. This
a potential weakness that would mean loss of clients so they
would prefer to keep quiet about it.
About The Author: David Riewe is a Publisher and Online
Marketer. Visit his Credit Resources Blog Below: