Help Capitec account got scammed - R3500 gone :(

[genetic]

Did the manager confirm whether it was a pin transaction? The chip n pin method has only recently started to pick traction in America afaik. It s usage is not as widespread as Europe, SA even.

America as a whole is far behind SA in terms of banking technology advancements

 

[genetic]

The fact that your bank allowed these transactions is a bit worrying.

My bank (Standard Bank) calls me the moment it picks up suspicious activity on my cards. An automated system calls me and I have to confirm that its actually me doing the transaction.

This obviously does not apply to CNP transactions (purchases online, etc)

There is a reason that the big 4 are better than Capitec. And this is one reason I'll stick to the big 4.

 

[cavedog]

Plot thickens, phoned the restaurant in Michigan just now to try get a better idea of what took place, it appears that a take away order was placed by phone and the transaction took place offline, ie no pins were involved and the card info was manually put into the system by the cashier by getting the card info and cvv number over the phone from the caller placing the order.

This is good news as apparently if a pin is involved there is a reduced chance of the transaction being reversed by the bank.

I'm interested in how this Capitec debit card is protected from fraud by MasterCard when its used like a credit card, anyone know?

It sounds like you card details AND possibly your mastercard secure code has been compromised. The only way would be to cancel the card and change your mastercard secure card to something new when you get a new card.

That said I did notice with my capitec card too that some online merchants does not redirect to mastercard secure code website and just automatically approve and reserve the funds on my card. Does not look like EACH and EVERY transaction performed online or manually needs to enter the secure code and as you say it was done over the phone which means only your card details could have been compromised.

 

[genetic]

It sounds like you card details AND possibly your mastercard secure code has been compromised. The only way would be to cancel the card and change your mastercard secure card to something new when you get a new card.

Malware perhaps?

 

[cavedog]

Malware perhaps?

I think more in the line of phising site or hacked payment processor.

They knew it was a mastercard and probably tried online purchases but was prompted for the secure code. That is why they did a transaction that skipped the secure code part.

Using a Capitec card online is very dangerous.... I think it is better to use a credit card because
1. Capitec is a savings account with actual money in.
2. Very limited support for fraud transactions. Doubt op will get his money back. Maybe he can have it reversed but I can't only imagine the headache.

 

[AchmatK]

It sounds like you card details AND possibly your mastercard secure code has been compromised.

Why would the secure code be compromised?

The way I read what happened is that the fraudster placed a call and ordered over the phone. He then gave the card number and the CVV number over the phone. This is how "card not present" transactions occur. There would not be a secure code sent.

I'm thinking that someone managed to take down all his card details including expiry date and CVV number. You don't need a card to be cloned in the above example.

 

[cavedog]

Why would the secure code be compromised?

The way I read what happened is that the fraudster placed a call and ordered over the phone. He then gave the card number and the CVV number over the phone. This is how "card not present" transactions occur. There would not be a secure code sent.

I'm thinking that someone managed to take down all his card details including expiry date and CVV number. You don't need a card to be cloned in the above example.

That is why I said possibly. If you read further you would see that I said it is most likely just the card details.

 

[genetic]

Using a Capitec card online is very dangerous.... I think it is better to use a credit card because
1. Capitec is a savings account with actual money in.
2. Very limited support for fraud transactions. Doubt op will get his money back. Maybe he can have it reversed but I can't only imagine the headache.

I had a fraudulent transaction on one of my Standard Bank cards back in 2010. Cancelled the card, reported it to their fraud division (were very helpful), and money was returned shortly thereafter.

 

[cavedog]

I had a fraudulent transaction on one of my Standard Bank cards back in 2010. Cancelled the card, reported it to their fraud division (were very helpful), and money was returned shortly thereafter.

Standard bank is good. My dads card was compromised too and he got all his money back too. Was a cheque account though. Really not sure how capitec will handle this so waiting to see if op gets his money back.

 

[genetic]

Standard bank is good. My dads card was compromised too and he got all his money back too. Was a cheque account though. Really not sure how capitec will handle this so waiting to see if op gets his money back.

Mine too. Standard Bank are great when it comes to fraudulent complaints.

 

[PsyWulf]

Securecode is optional for vendors to use

 

[DA-LION-619]

I thought as much that details were involved and not the card. I also use my card as a credit card and yes only some merchants use secure code. I've noticed there's a 5k limit I think.

I keep my money in another pocket account just to be safe from malware, cloners, muggers etc.

 

[airborne]

I thought as much that details were involved and not the card. I also use my card as a credit card and yes only some merchants use secure code. I've noticed there's a 5k limit I think.

I keep my money in another pocket account just to be safe from malware, cloners, muggers etc.

Good idea, I think I am going to keep the bulk of the Capitec funds in the saving pocket and then transfer to the card linked account as needed, good scheme that.

Capitec investigation dept advised me to open a case of fraud which I did this evening, spoke to the Capitec card div earlier and it looks like I could very well get these transactions reversed. The fact that the transactions were initiated in the Us late at night will help my case it appears.

 

[airborne]

Capitec allowed the charge back on the one amount that increased to R3500 once it was processed. The other amount has not been processed and they say will probably be returned to the merchants bank in 14 days unpaid, that transaction looks like some kind of bogus transaction that's put through by the scammers to test the account/card details are still active before putting through a large amount at a legitimate store.

I was charged R105 by Capitec to process the chargeback and the R3500 was returned to my account. The merchant has 45 days to prove I authorized the payment if he can't then I get the R105 refunded, if he can then the R3500 gets taken off my account again.

Big relief!

 

[genetic]

Capitec allowed the charge back on the one amount that increased to R3500 once it was processed. The other amount has not been processed and they say will probably be returned to the merchants bank in 14 days unpaid, that transaction looks like some kind of bogus transaction that's put through by the scammers to test the account/card details are still active before putting through a large amount at a legitimate store.

I was charged R105 by Capitec to process the chargeback and the R3500 was returned to my account. The merchant has 45 days to prove I authorized the payment if he can't then I get the R105 refunded, if he can then the R3500 gets taken off my account again.

Big relief!

Glad you got your cash back!