Online Credit Card Fraud and Small Business
When I was in college, I knew people who used to trade credit cards with their friends. They’d go to the mall, buy video game consoles, concert tickets, clothes and other things they wanted. At the end of the day they would each call the credit card company and say that they lost their card. The charges were wiped of of these kid’s cards, and the credit card company sent them new cards. They lost nothing but gained thousands of dollars worth of stuff. What I didn’t know at the time was that it was the owners of the stores that they used the credit cards in that were out the money, not the credit card companies.