'Audacious' debit card scam hits chain

[defendandprotect]

'Audacious' debit card scam hits chain

Thieves Swipe Debit Card Data
by Ann Zimmerman and Miguel Bustillo
Friday, May 13, 2011


Brandi Ramundo of West Chicago, Ill., rushed out to a Michaels arts-and-crafts store April 16 to cobble together corsages for her seven-year-old twins, who were going to a father-daughter dance.

"It turned out cute," Ms. Ramundo says of the fake-flower crafts project. "But it wound up costing me 1,400 bucks."


Ms. Ramundo is one of an unknown number of shoppers at Michaels stores in 20 states whose bank accounts were looted after they had used their bank debit cards at the retailer.

Thieves tampered with the retailer's debit-card processing equipment at about 80 stores from Massachusetts to Washington, according to the chain's corporate parent, Michaels Stores Inc.

http://finance.yahoo.com/banking-budgeting/article/112735/thieves-debit-card-data-michaels-wsj



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How much longer are we going to fool around with these computer cards?

Let's get back to checks --

We can save ourselves a lot of money --

AND stop making the banksters rich -- !!

[damntexdem]

1. Nonsense. The cards are easier to use. I won't give mine up.

How about stronger laws limiting consumer losses when their cards are misused?

And, oh yes, the use of checks was bedeviled by forgery scams.

[RebelOne]

2. I agree. I use my debit card to purchase everything.

It is too much of a nuisance to write a check, and I do not like carrying cash. I do not have or use credit cards.

[defendandprotect]

3. I see... it's just easier to make banksters rich ... OK --

[defendandprotect]

5. but let's make clear these cards ADD to the costs of everything we buy -- !!

[defendandprotect]

10. We all pay for these losses -- otherwise the convenience would have cost this woman $1400

-- there are more secure cards -- but US companies resisting the costs involved.

And, I'm not aware of any average person being victim of a forged check --

busiensses did suffer some bounced checks, but that's different.

[Sonoman]

16. I only use mine to get cash, and I pay cash for all incidentals.

That's what works for me.

If I carry a couple of hundred bucks into some joint, I am going to stop spending when I run out of cash.

This saves me a ton of money over a year's time.

Sonoman

[Liberal_in_LA]

18. Mine either. Had about 3 unauthorized uses over the year. Each time, my bank refunded the $$ and

issued new card.

[madamesilverspurs]

4. I quit shopping at Michael's

when I learned that the chain was among the Bush family holdings. Don't know if that's still the case, but I'm sorry for those who got ripped off. If the place is still owned by the family, getting ripped off should come as no surprise.


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[defendandprotect]

8. Bush family owns Michael's???

Weird thing is around Easter was thinking of going to their store

in my area for artificial flowers to Easter baskets!!

I try very hard NOT to use my ATM card -- think I'm going to turn it in.

But I still carry it around with me!

I often use it just to pick up stamps at the bank!

Don't think you can just ask for them at the counter --

[JuniperLea]

13. While perusing my 401k prospecti...

I found that the mutual funds in my account have all sorts of really bad companies in them... it's getting harder and harder to avoid doing business with any particular large company.

[slampoet]

6. Why are WE liable and not Michaels? Please explain this.

[malaise]

7. And it's global

One businessman here was arrested after he went on a withdrawal spree last Sunday to the point that the bank became suspicious and police picked him up at his business place.

[defendandprotect]

9. Notice that there are more secure cards --

Some embedded with a microchip instead of the magnetic strip --

considered more secure --

Standard in Europe --


US companies resisted these cards because of costs involved -- they have to replace all existing

card processors to read the microchip.

[JuniperLea]

12. Mark of the beast!!

Recovering Fundy here... just sayin'. ;)

[defendandprotect]

14. Did you use a credit card to escape --- just askin' ...

:)

[JuniperLea]

15. Hahaha!

Good one! Fortunately this was one time where "just say no" worked splendidly!

[JuniperLea]

11. I use cash

I get money at the bank, and I use cash whenever possible. I was an ATM card fan for a long time, but this is getting worse and worse. It can cause a huge mess, and a massive backlash if your account is hacked and you can't pay creditors/bills on time!

I figure out how much cash I can spend each month and get that amount... it also gives me a good sense of how much money I'm spending. I've been saving a lot more money by doing this... a LOT.

[jbnow]

17. Checks are not safe! Account # and bank routing # can be used

like a credit card at many places to make purchases
With those numbers, printed on every check, scammers can gain access to your account and send your money to their safe place.

If you look it up you can see advice to not release that info.
They just don't tell you how to write a check and not release it.
Only protection is to always look closely at transactions. There is a limited time to report it. (Of course you will notice very quickly if your account is emptied)

Credit cards are much safer although we hear more about credit card fraud

[defendandprotect]

20. Aaha ... never thought about that -- well, back to cash!!

I just use my credit card vs the ATM card now -- same thing --

[JVS]

19. I use cash at most stores. Credit, if I don't happen to have the cash on me.

My debit card only goes to a the bank ATM. Maybe the grocery store in a pinch but I prefer credit there.. Never to a small business. I've seen too many people get overcharged by restaurants and the like to trust just any business with the card.