Nashbar Compromised Credit Card Information, Check Your Credit CardStatements if You've Shopped at Nashbar in the past several years.

Jay Beattie wrote:

Ultimately, the merchant pays along with a chargeback fee. This is an
appropriate arrangement since the merchant ultimately controls who can
or cannot purchas on credit. -- Jay Beattie.

Huh?

If the charge is approved electronically then the merchant is off the
hook. In fact the merchant is forbidden from even requiring
identification from the purchaser unless he has a reason for believing
that the card is stolen.

The only problem for the merchant is that if he has an abnormally high
fraud level then his merchant bank may raise his credit card fees.

On Jul 20, 10:35*pm, SMS wrote:
Jay Beattie wrote:
Ultimately, the merchant pays along with a chargeback fee. *This is an
appropriate arrangement since the merchant ultimately controls who can
or cannot purchas on credit. -- Jay Beattie.

Huh?

If the charge is approved electronically then the merchant is off the
hook. In fact the merchant is forbidden from even requiring
identification from the purchaser unless he has a reason for believing
that the card is stolen.

The only problem for the merchant is that if he has an abnormally high
fraud level then his merchant bank may raise his credit card fees.

According to a summary of the Visa merchant agreement,

"An e-commerce merchant can be held financially
responsible for a fraudulent transaction, even if it has been
approved by the Issuer. This is because there is a greater chance of
fraud due to the absence of a card imprint
and cardholder signature. E-commerce
merchants, however, can minimize their
fraud exposure with the proper Internetspecific
risk management infrastructure."

I haven't looked at the actual merchant agreement for card-present
purchases and do not know the exceptions that would allow you to re-
present. Are you sure that electronic approval is enough (I thought
that just covered whether the card was lost or stolen or over-limit)?
What if the signature is off, etc.? -- Jay Beattie.

On Jul 21, 12:22*am, SMS wrote:

The criminals were pretty clever, rather than putting large charges on
the cards that cardholders are likely to notice, they do mass quantities
of small charges. If I hadn't been searching for a specific charge then
I probably wouldn't have noticed three charges adding up to less than $15..

I also had to spend money on the fedexing of a new card, but my provider
only charges $8.

Watch out for the local gas station though.

http://news.bbc.co.uk/2/hi/americas/8152278.stm

A man in the United States popped out to his local petrol station to
buy a pack of cigarettes - only to find his card charged
$23,148,855,308,184,500.

That is $23 quadrillion (£14 quadrillion) - many times the US national
debt.

"I thought somebody had bought Europe with my credit card," said Josh
Muszynski, from New Hampshire.

He says his appeals to his bank first met with little understanding,
though it eventually corrected the error.

It also waived the usual $15 overdraft fee.

"It was all back to normal," Mr Muszynski told his local television
station, WMUR. "They reversed the negative balance fee, which was
nice."

Debt crisis

His nightmare began when he checked his online bank account a few
hours after buying the cigarettes.

He thought he would be a couple of hundred dollars in the black. But
his overdraft had pushed him into the red - by an amount equivalent to
many times the entire US national debt.

I just got my letter from Nashbar today. My User name and Password on their
site is pretty much the same one I use everywhere else. (I know, I
know...don't give me crap about it!). I wonder if that means the perps can
get into any of my other accounts...or even my new credit card account,
which uses the same ID and PW as the old.

I mean, I dunno, I ain't no rocket scientist, but I'm just sayin...

I get your point, and I'm not even offended by the sarcasm. It's pretty
dumb of me to leave myself wide open just because I don't want to have to
memorize a new password. OK, so the ID's and PW's all get changed tonight.

(PS: My standard PW is NOT "Papa Tom," by the way.)

Papa Tom wrote:
I mean, I dunno, I ain't no rocket scientist, but I'm just sayin...

I get your point, and I'm not even offended by the sarcasm. It's pretty
dumb of me to leave myself wide open just because I don't want to have to
memorize a new password. OK, so the ID's and PW's all get changed tonight.

(PS: My standard PW is NOT "Papa Tom," by the way.)


We know. G

SMS wrote:
I started seeing strange charges on my credit card bill in the past two
weeks, so I did a search on the names of the fraudulent companies and
found that it was Bike Nashbar who compromised credit card information,

See
"http://bikeportland.org/2009/07/14/fraud-hits-local-customers-of-online-retailer-nashbar/#more-21011"



just got a letter from nashbar explaining all this, and a 30% discount
off of next order.

futrino wrote:
SMS wrote:
I started seeing strange charges on my credit card bill in the past
two weeks, so I did a search on the names of the fraudulent companies
and found that it was Bike Nashbar who compromised credit card
information,

See
"http://bikeportland.org/2009/07/14/fraud-hits-local-customers-of-online-retailer-nashbar/#more-21011"



just got a letter from nashbar explaining all this, and a 30% discount
off of next order.

Yeah, I got my letter yesterday. Hmm, what's the lowest margin item they
sell? I suspect that it's their Dahon bicycles. Too bad I don't need one.