OT: Credit card fraud

[TGTool]

So last evening I got a call from a man saying he was with Green State, my credit union, and they were flagging a possible fraudulent charge. In order to cancel it they needed a securing verification and he would text me with the security code number and the number to call to confirm the cancellation. This sounded almost, but not quite right. I've had previous episodes of attempts to use a card and being called to verify or deny certain transaction. This guy claimed that security needed me to use the code number. I told him that I'd made no purchase of that amount, $2,000, and that they should be able to cancel without anything further.

After he'd called twice I hung up and called the number my credit card issuer listed for problems. There were actually two attempts to use the card for a total of $7,000 and both were rejected. So they're canceling this card and issuing another.

Now none of that has any special import. Fraud happens and it's prevalent. I thought this was a little more sophisticated than most so mentioned it to my brother and he also had a fraud attempt on his card over the weekend.

What I'm wondering now is whether we're seeing a Russian attack play out. They've certainly got internet tools that would allow them to collect data and put different data sets together in useful ways for fraud and identity theft. This guy knew my bank, home and cell phone numbers. Is it unreasonable to expect that Russia would sell such information cheaply and widely to the unscrupulous folks who frequent the dark web these days? And if so, would we hear about it from our security services as a heads-up for citizens or would they prefer that news not get out to reduce any boost to anxiety or comfort to the enemy?

Just wondering

 

[Milland]

Perhaps it wasn't the Russians and Chinese kids....Perhaps the hackers are mostly DOD/MOD etc....

This is close to the dumbest thing you've posted.

Only exceeded by all the other things you've posted.

 

[52 Ford]

Tin foil hats UNITE!

In all seriousness, you don't hear about all the attempted hacking. Moderna and Johnson & Johnson might've had a lot of attempted hacking going on.

As for the Canadian truck drivers... they're civilians, not a large corporation. Likely a whole lot less secure on the web.

 

[52 Ford]

I bet this thread is going to turn into a "heated debate" really quickly.

 

[michiganbuck]

The latest thing about credit unions is that some are suggesting that you may need a log of all of your $600+ withdraws for your federal income tax records.

If I could just remember where I buried my money box, I would take all my money out of savings and put it in a safe place.


This is a true fact:
As soon as the weather breaks I will be metal detecting a certain place for lost buried gold for a friend whose father died. Some jars of silver were found but the gold was not yet found.

 

[JoeE.]

... some are suggesting that you may need a log of all of your $600+ withdraws for your federal income tax records.

I'll pull a trump... "I accidentally flushed it down the commode."

 

[52 Ford]

I'll pull a trump... "I accidentally flushed it down the commode."

Lost all my money and my guns in a tragic boating accident.

 

[JST]

It seems to be true that a lot of the internet fraudsters are russian, encouraged by the russian government, or at least not prosecuted by it. Given help by the russian military in some cases, apparently.

They have been at the "phishing" deal as the OP describes, for a long time now, nothing new. They want access to bank accounts so they can drain them. Same old same old.

 

[52 Ford]

The latest thing about credit unions is that some are suggesting that you may need a log of all of your $600+ withdraws for your federal income tax records.

If I could just remember where I buried my money box, I would take all my money out of savings and put it in a safe place.


This is a true fact:
As soon as the weather breaks I will be metal detecting a certain place for lost buried gold for a friend whose father died. Some jars of silver were found but the gold was not yet found.

You have a good metal detector? If not, I can give you a few suggestions.

 

[sfriedberg]

you may need a log of all of your $600+ withdraws for your federal income tax records.

That sounds like somebody got confused about the financial institution reporting requirements for $10,000+ transfers (re: money laundering). But the US tax code is not remotely rational, so may be. Where'd you hear/read this?

 

[TGTool]

That sounds like somebody got confused about the financial institution reporting requirements for $10,000+ transfers (re: money laundering). But the US tax code is not remotely rational, so may be. Where'd you hear/read this?

I puzzled about that too. I can't see anything about withdrawing funds that would engage the IRS. Deposit funds, maybe. Your sources of taxable income are their business, but you can put money into your bank and take it out to your heart's content so long as you've paid what's due.

 

[Freedommachine]

I bet this thread is going to turn into a "heated debate" really quickly.

It most certainly will not!

The latest thing about credit unions is that some are suggesting that you may need a log of all of your $600+ withdraws for your federal income tax records.

I believe that one was dropped from the bill. They were trying for mandatory reporting of all individual transactions from accounts that reach more than $600 total in transactions per year. - then it changed to $10,000 and then it was removed from the bill.

There is however now a rule where all financial institutions will be required to 1099 you after a set $ amount in total transactions.

Idk, either way more annoying documents to deal with.

 

[52 Ford]

Idk, either way more annoying documents to deal with.

Paperwork... gross.

 

[GregSY]

Notice how the liberal instantly offers up 'you're dumb!' without any sort of reason or backing? Typical liberal tactic...

 

[Rudd]

Notice how he never said "you're dumb" - he said the statement was dumb. And previous statements were also dumb.
SO you twist the words around. I'd also say typical.

 

[52 Ford]

It most certainly will not!

Not heated, yet. It IS getting warmer, though.

 

[EmGo]

That sounds like somebody got confused about the financial institution reporting requirements for $10,000+ transfers (re: money laundering). But the US tax code is not remotely rational, so may be. Where'd you hear/read this?

Janet Yellen in particular was peddling this shit. They can't catch Jamie or Lloyd but any little pipsqueak who dares to bring in or spend $600 better be reporting it ! No more of them high-finance deals at the flea market, we're going to prosecute you cheaters !

Believe it or not, s fried, the dems really are that stupid. It's like handing the maga crowd a loaded automatic and telling them "hey, I'll go stand over there and you see if these bullets work".

Flock me, how retarded can you get and still remember to breathe ?

I think I read somewhere that while this particular provision was removed from that bill, a similar one was snuck in somewhere else. If you look maybe can find it. Or maybe not. Things that are actually important to us peons do not get reported on. The press is too busy riling us all up about stuff that doesn't count and we can't change anyhow.

-----

Here we go - resistance to the original statute was mainly from the banks who didn't want more paperwork because we know congress doesn't give a shit about us, except to squeeze a little more blood from the turnips, so they now restrict it to Paypal and other transaction providers

Fact or Fiction: The IRS is Tracking Money Earned on PayPal and Cash App - CNET

"Tax cheaters" yeah, the double-dutch with a sip of irish big players get their own special multi-billion dollar "loopholes" then when they have enough stuck overseas they get yet another "loophole" to "encourage them to return the money to the US" ... in the form of stock buybacks but you damn $600 a year tax cheats, by god we're gonna put a stop to this !!!

 

[drcoelho]

why would one assume it is Russians? There are plenty of criminals here in the USA doing scams all the time.

 

[Tyrone Shoelaces]

why would one assume it is Russians? There are plenty of criminals here in the USA doing scams all the time.

Same in the UK. It’s been getting worse over the last couple of years because nobody gets caught. As I said the other day you never hear of bank robberies or armoured car hold ups these days. Internet fraud is much easier and risk free.

Regards Tyrone.

 

[sfriedberg]

OK, guys, this was about earnings over $600, not bank withdrawals (or deposits) over $600. I already get 1099-Misc reported for royalties I earn on the order of $100 in a year, so this is not a major new thing in principle.

Actually, it sounds much more like the business-to-business reporting of payments to vendors that was proposed roughly 10 years ago. I suppose if you are a sole proprietor (i.e., there's no separation between your personal finances and your business finances) it would be a huge pain. If you do actual business accounting, it would be pretty mechanical to crank out forms for all your vendors from your accounts payable books, although it would still be a large pile of additional paperwork to file. If you're a vendor, you're supposed to be reporting all that income anyway, regardless of whether the buyer (or payment platform) reports it to the IRS.

But nothing to do with getting cash out of your account at a bank or credit union.