I wonder why the cc companies do nothing about this credit card crap like change the fucking system...this whole stolen cc biz relies on "big scores" so basically if they put an sms verification code for every transaction over say 100$ it would thwart carders in their tracks...
there are 2 types of cards chip and non chip...the chip version is almost impossible to misuse...but non chip cards are issued like nothing at all is going on...
I come from a banking family and nobody knows why non chip cards still exist at all...the problem is the banks and visa/mastercard/amex ect are not the same companies and cc vendors policy is strange to everybody...
billions are lost every year to this stupid crap you would not believe how easy it is to duplicate a non chip card is a sequence of 2 numbers the first is the one on your card like 1234 5678 9012 3456 and then another number it all looks like this:
1234567890123456=098765432109876
this is what hackers sell online to each other
its almost pathetic to see visa and mastercard still stuck with these ancient ancient methods of "security"...this number=another number is ALL you need to steal somebodys money...pathetic...
in my country banks actually have a cc transaction verification department and they call me when I try purchasing something online, not visa...the verification is actually done manually by the banks
...what a huge waste of time and money...
it must be some advantage visa and master gain from this that I simply can not figure out...or they are just so rolling in cash that they are too lazy to do something about it
