Feh

[pm215]

Somebody has apparently got hold of my credit card details and run up about a grand's worth of fraudulent purchases. Fortunately I wasn't intending to use my card while I was here and hopefully the Coop will sort out issuing a new card and so on with as little hassle as they did last time this happened (about five years ago).

Comments

[(Anonymous)]

Er no - it's a credit card so the card holder is not liable for fraudulent transactions. Chip n pin does not alter the Consumer Credit Act of 1974.

[uitlander]

Chip and pin has changed the basis of the proof of liability/negligence. It makes no changes to the act itself - only Parliament can do that. The reasoning goes that a pin is now required to complete a transaction, and the cardholder has agreed to keep that pin secret - so if the pin has been used the cardholder has disclosed it and so is liable to foot the bill. People have argued against this with varying degrees of success - depending on which financial institution issued the card.

This does not apply to 'card not present' fraud - only transactions where a pin hsa been entered.