Lets accept that with electronic commerce the fraudster is likely to get upper hand sometimes. Due to large Indian presence in IT/BPO industry used by global financing firms it is likely that more frauds will come from India. Remember India is third most curropt country in the world.
Also sadly Indian society judges the moral character of a person by his personal life...if he/she had pre-marital sex, fling outside marriage, his daughter is sleeping with someone, child outside wedlock. In India its perfectly OK to earn your living thru publicly curropt means as long as you follow the right norms in wedlock. Most Indians have a habit of lambasting the west from their (flawed) moral eyes so the low ethics in business/profession propogate
RE:This is due to low moral values
by King of Hyderabad on Jun 02, 2008 03:16 AM Permalink
u didnt read the article didnt you? either that, or the article went way over your head.
the fraud mentioned here is about Credit Card cloning which cannot happen unless the person has someone else's credit card in hand. how can the BPOs get the actual credit cards?
as for the rest of your rant, its crap in this context.
RE:how?
by Rams on May 31, 2008 02:54 PM Permalink
Please read the article fully. It says Card-cloning, also known as skimming, involves retrieving card details and pins (personal identification numbers) to withdraw money fraudulently from people's bank accounts.
HSBC gives a security code generator for internet banking. The code keeps changing every 30 seconds. I think this type of security in place of CC pin would be the best solution to prevent frauds resulting out of card-cloning.
RE:Easy to solve the problem
by Rams on May 31, 2008 03:01 PM Permalink
and also many customers do not use credit cards to withdraw cash. So if they are given an option to sespend cash withdrawal facility, it would be very useful.
I suggest that the plastic card should have our thumb or finger impression so that the identity of the individual can be confirmed on each transaction.
For this bankers should come up with a machine capable of reading finger prints at the point of sale, which will definately bring down to minimum the fraud on plastic cards
