[thechat] The Credit Card Prank
Isaac Forman
isaac at bigtrip.org
Sat Jun 7 10:10:21 CDT 2003
In Australia, POS (Point of Sale, not Piece of Shit) operators
are lax with signature checks. But here in the UK, in every
store in which I've used my credit card, the attendant has
verified that the signature on the receipt actually matches
the one of the reverse of my card.
isaac
>In truth, American banks, and presumably their credit card
divisions,
>simply don't verfy signatures at all. Instead they hold a
certain
>amount of money in reserve to pay off legal claims
brought by people
>whose cards or checks were fraudulently processed/
cashed. They've made
>the business decision that it's less expensive to pay off
claims than
>to hire personnel to verify signatures.
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