e-Mugging

Back in the day, you did not want to carry cash in fear of being mugged. Someone could simply snatch and grab or worse yet beat you and take your money. Back then you had a choice. You could fight, you could shoot them or you could give up the hard earned cash.

Along came credit cards and debit cards. They were supposed to free us up from having to carry the vulnerable cash around with us. All was fine in this new generation until the weasels changed. They changed from bold criminals willing to confront people for their purse into cowards that sit behind their computer screen and steal your identity. They capture credit card numbers and make online purchases. You can’t shoot them if you can’t see them! No you have no choice but to get e-Mugged!

Restaurants are prime locations for this fraud. A waiter will take your card to pay for dinner and then simply write down the number, the security code on the back and the phone number of the issuing bank. This is enough for them to make tons of purchases online. This has happened to me, this week. This is the 2nd time in about 1 year. I talked to Bank of America and they said there is nothing I can do. Just check my online banking for transactions as often as possible.

Criminals are also “skimming” debit card numbers from swiping devices and using cameras to record your PIN number. This recently happened right at a Bank of America ATM. AT THE BANK! When someone uses your PIN to get cash, you cannot get it back. It is not protected by VISA. Only the transactions run as credit are.

When a criminal does get your number and buys stuff, you can stop the fraudulent purchases from being charged to your account but the vendors already shipped out the product so the vendors get screwed. This raises the prices of everything! There is no safe way anymore. Seems you have to go to the bank teller and withdraw just the amount of money you need for the day.

I am now running my debit card as credit which is then deducted right from my checking and is protected by Visa. Also a good tip it to not leave large amounts in your checking. Keep it in savings and transfer if you need to. Also don’t use the feature that auto transfers fund from savings if not enough in checking to cover transaction.

ARGGG!