US Embassy Warning via Credit Card Fraud

[Ezequiel]

If you have seem CNN report on credit card theft, you all will know that the theives don't need to write down the CC number, they just park their in front of the store with their laptop computer and everytime anybody make a purchase it gets recorded in their computer. CNN showed a demonstration they park in front a Home Depot and Target with a laptop computer (need the right program) and everytime somebody purchased anything with a Debit or Credit card, the CC number, name, address showed up in the computer.

Businesses can proctect themselves by buying a blocker, but it's Expensive.

My best guess, is that those cc thieves are not even Dominicans, because they need the technology and the money to get that technology to be able to steal cc#.

[GALK]

As it was mentioned on this page, this is an inside crime.
Employees from VisaNet took all electronic info from the cards (article in ListinDiaro this weekend).
The Visacard I use here has been duplicated as well and used in Pakistan(tried to spend US$ 2500).
As I've never been there Visa got in touch with me and then cancelled the card.
They told me that all electronic datas have been on this clone, will get a new card.

If one uses a card there is no way to protect yourself against this type of crime.

GALK

[Chris]

Originally Posted by GALK

If one uses a card there is no way to protect yourself against this type of crime.

GALK

Of course you can protect yourself against this type of crime. Firstly, let your credit card company know where you are. Tell them more or less what you are going to spend and where. Use a credit card only for certain transactions and not your everyday beer at the colmado. Some time ago I highlighted what I do against this type of fraud and theft and some folks suggested that it was too much of a pain in the 'you-know-what'. But, I have not had my cards used by thieves for many years, despite a lot of travelling.

Call your credit card company. Tell them .. for example .. today I am going to withdraw cash from my account and I'm going to make three other transactions at these stores ... name the stores. They will authorize the four transactions for the day and nothing more. No-one will be able to rip you off - unless there is wholesale criminal activity from those who put blocks and release blocks on your cards.

[LindseyKaufman]

I agree with Chris. I inform my bank of the dates I will be away, where I will be, my pattern of credit card use- whether I will just use it at ATM's or if I will also use it for credit purchases, etc. I always use the same ATM to withdraw money. And I monitor my balances daily. So far, so good here in the DR.

I cannot speak for other nationalities, but Americans are accustomed to using the card for everything. For casual American tourists, it is a hard transition to pay only by cash transactions. This is why they are vulnerable.

Lindsey

[richardmci]

Doesn't this situation argue for getting a local bank account and local debit cards? I understand from earlier postings in connection with Bank Leon, ScotiaBank, Banresrvas, etc, that you can get prepaid debit cards from local banks, and/or use a debit card associated with a peso account where you keep a low peso balance. Why would anyone spending serious time in DR be using credit or debit cards from a foreign bank where you keep your main accounts?

You would keep most of your dinero in a dollar account at a DR bank, and transfer to the peso account only as needed. You then ONLY use a debit/ ATM card associated with your peso account. You NEVER use a card associated with either your local dollar account, or worse, your main account in a foreign currency (e.g. USD) back in your home country.

So, if these card frauds do originate as an inside job (inside VISA or mastercard) that is targeted at extranjeros, then you're safe because you've gone local with your cards. And if a fraud happens to you as a local, then you have minimized your exposure and can replace the cards easily at the local issuing bank. Your foreign accounts, and all the automatic debits tied to it, have not been disrupted, and you don't need to be calling back to your home country for replacement cards.

comments?

richard
(newby trying to do his homework on DR1 )

[Gringo]

Yep, all to familiar, had my Identity stolen from MasterCard. Some Idiot had a field day in the capital, spent two days at police headquarters getting it straitened out. You can't begin to imagine the fun I went through clearing myself!

[Adam Spenser]

I was speaking to a friend of mine in the DR tonight about this post. He wanted to know if the fraud only applied to US credit cards or DR credit cards as well. If also to DR credit cards he hadn't the vaguest idea how to track someone elses use other than phone the DR bank every day. My recollection is that for most banks you can set up an online view of your card transactions. Is my recollection correct?

Adam

[Chip]

Originally Posted by richardmci

Doesn't this situation argue for getting a local bank account and local debit cards? I understand from earlier postings in connection with Bank Leon, ScotiaBank, Banresrvas, etc, that you can get prepaid debit cards from local banks, and/or use a debit card associated with a peso account where you keep a low peso balance. Why would anyone spending serious time in DR be using credit or debit cards from a foreign bank where you keep your main accounts?

You would keep most of your dinero in a dollar account at a DR bank, and transfer to the peso account only as needed. You then ONLY use a debit/ ATM card associated with your peso account. You NEVER use a card associated with either your local dollar account, or worse, your main account in a foreign currency (e.g. USD) back in your home country.

So, if these card frauds do originate as an inside job (inside VISA or mastercard) that is targeted at extranjeros, then you're safe because you've gone local with your cards. And if a fraud happens to you as a local, then you have minimized your exposure and can replace the cards easily at the local issuing bank. Your foreign accounts, and all the automatic debits tied to it, have not been disrupted, and you don't need to be calling back to your home country for replacement cards.

comments?

richard
(newby trying to do his homework on DR1 )

Suuuuurrrrre!!!, how do you get your money from your US bank accounts to your Dominican accounts when a wire transfer requires one to be present in the States - and obviously you can't because you live the DR.

[richardmci]

You can set up wires so you initiate them with just a telephone call from anywhere in the world by completing an authorization form with your bank (e.g. Wachovia)

You can also authorize someone in the US, even a friend, with a power of attorney for financial matters, by stopping in at your US bank and signing the forms together. They can then initiate the wire on your instruction via email or telephone.

richard

[richardmci]

haven't checked but Citibank, which still maintains an office in SD presumably for institutional clients, after they sold off their retail banking recently, used to permit wire transfers via email (or from their website). Anybody know if Citi allows personal accounts in DR now?