Stopping Credit Card Fraud

etali · 02-27-2007

I live in the UK, so forgive me if this is old news in the USA, but Citibank have launched a service that is new to the UK at least. They will provide you with a dynamically generated credit card number for each online transaction - you can set how much you are willing to allow a merchant to take from this 'card' and it will expire after a few days.

This minimises the risk of cards getting used for more than you expect, or the details being stolen / sold on.

I think this is a great service, and wish more banks would offer it.

njoker555 · 02-27-2007

Wow that is great, I dont think its out for USA yet because I have a citibank card and nothing like that happened, of course I have never used my citibank card lol, my other credit cards do find, safer too.

Mike · 02-28-2007

You can use online services like www.epassporte.com or paypal or even e-gold. They are secure and you dont need to give much private information.

etali · 03-02-2007

Thanks for your responses.

I'm suprised njoker555 - my understanding is that Citibank are an American bank that is only just starting to open branches over here (we only have four, all in the southern part of the country). I would have thought that they would launch a new service in their home country first.

Unless we're just more paranoid about online stuff over here?

swapnil90 · 03-02-2007

hmm...datz some gud news...banks regularly have to do such stuff coz of the ongoing frauds

kunzi · 03-09-2007

That is a good informative post etali. Thanks for sharing that important information with all. I agree that the scheme is very good and will help reduce online frauds but no such scheme has been introduced in my country till now

. I hope they introduce it here also so as to minimizw the risk of online credit card frauds.

smarty · 03-10-2007

Quote:

Originally Posted by kunzi

That is a good informative post etali. Thanks for sharing that important information with all. I agree that the scheme is very good and will help reduce online frauds but no such scheme has been introduced in my country till now

. I hope they introduce it here also so as to minimizw the risk of online credit card frauds.

Which country are you from ?? I think it is introduced in quite a few places.!!.!!

intex · 03-13-2007

Quote:

Originally Posted by etali

I live in the UK, so forgive me if this is old news in the USA, but Citibank have launched a service that is new to the UK at least. They will provide you with a dynamically generated credit card number for each online transaction - you can set how much you are willing to allow a merchant to take from this 'card' and it will expire after a few days.

This minimises the risk of cards getting used for more than you expect, or the details being stolen / sold on.

I think this is a great service, and wish more banks would offer it.

hmm it sounds good, in my country their is nothing like this. I hope even we can get these services in our country soon.

thnx for info.

harakiri · 03-13-2007

Imposing a harsh punishment to credit card card offenders can help aside from improving the existing credit card security system.

**louj** · 03-16-2007

I think that is a great idea and every credit card company should also put that into practice. Especially with the growing rate of scammed victims nowadays.

02-27-2007	#1 (permalink)
etali Member Join Date: Feb 2007 Posts: 60 Rep Power: 2	Stopping Credit Card Fraud I live in the UK, so forgive me if this is old news in the USA, but Citibank have launched a service that is new to the UK at least. They will provide you with a dynamically generated credit card number for each online transaction - you can set how much you are willing to allow a merchant to take from this 'card' and it will expire after a few days. This minimises the risk of cards getting used for more than you expect, or the details being stolen / sold on. I think this is a great service, and wish more banks would offer it.

02-27-2007	#2 (permalink)
njoker555 Senior Member Join Date: Feb 2007 Posts: 284 Rep Power: 2	Wow that is great, I dont think its out for USA yet because I have a citibank card and nothing like that happened, of course I have never used my citibank card lol, my other credit cards do find, safer too. __________________ Gamers Forum << PR3 Forum WebZ Junk Zone << PR3 Blog ZenPix Web Blog << Another PR3 Blog DUJT Webmaster Forum

02-28-2007	#3 (permalink)
Mike Junior Member Join Date: Feb 2007 Posts: 15 Rep Power: 0	You can use online services like www.epassporte.com or paypal or even e-gold. They are secure and you dont need to give much private information. __________________ Yahoo! FanClub: Solve your all Yahoo Problems here

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03-02-2007	#4 (permalink)
etali Member Join Date: Feb 2007 Posts: 60 Rep Power: 2	Thanks for your responses. I'm suprised njoker555 - my understanding is that Citibank are an American bank that is only just starting to open branches over here (we only have four, all in the southern part of the country). I would have thought that they would launch a new service in their home country first. Unless we're just more paranoid about online stuff over here?

03-02-2007	#5 (permalink)
swapnil90 Senior Member Join Date: Feb 2007 Posts: 255 Rep Power: 2	hmm...datz some gud news...banks regularly have to do such stuff coz of the ongoing frauds

03-09-2007	#6 (permalink)
kunzi Junior Member Join Date: Mar 2007 Posts: 25 Rep Power: 0	That is a good informative post etali. Thanks for sharing that important information with all. I agree that the scheme is very good and will help reduce online frauds but no such scheme has been introduced in my country till now . I hope they introduce it here also so as to minimizw the risk of online credit card frauds.

03-13-2007	#9 (permalink)
harakiri Junior Member Join Date: Mar 2007 Posts: 10 Rep Power: 0	Imposing a harsh punishment to credit card card offenders can help aside from improving the existing credit card security system.

03-16-2007	#10 (permalink)
louj Banned Join Date: Mar 2007 Posts: 139 Rep Power: 0	I think that is a great idea and every credit card company should also put that into practice. Especially with the growing rate of scammed victims nowadays.

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