SpeckledJim said:
No, everyone should be aware of how they do business online, I just think it's unwise to confuse an attempt to prevent fraud with fraud itself. I don't doubt Lik-Sang have had their fair share of orders placed with solen information.
Anyway this has veered a long way off topic.
That is why there are tons of solutions available to both the consumer and
the merchant to thwart fraud. It is in everyone's interest that everyone,
which includes the public, the merchant, and the financial institutions, are
able to trust secured transactions online. In order for this to happen, there
are some important measures that are agreed upon:
1. The financial institution will cover any fraud that is due to a breach of established online security.
2. The consumer is required to use only authorized secure online products for transactions.
3. The merchant is required to provide the authorized secure online products for the consumer.
#3 is important in this case because, if a company is wrongfully defrauded
using secure online products that the banks/visa/mastercard/etc provided,
their "losses" would be covered by said institution. There is no reason to
go beyond these strict measures by asking for a person's signature or a
"photocopy" of a card, unless said financial institution has made it a
requirement. Basically, no company has any right to go beyond the established
procedures of handling personal information, and not one shread of personal
info (eg: signature) beyond what is necessary for the transaction should be
divulged . No company, for example, should ask for your mother's maiden
name.
Anyhow, I really don't wish to continue crapping this thead. I'm only wriiting this
stuff because it's important info for folks who may or may not be aware of it. I
have spent over 16 years working for a financial institution, so believe me when I
say don't give out more info than what's necessary.
Nf.