Identity Theft Comes to Manila
The PDI reports that ID theft is on the rise in Manila. While the report has anecdotal evidence, it does pay to guard from ID theft.
In 2002, more than a whopping one billion pesos' worth of credit card transactions the branch of warehouse club operator PriceSmart Inc. on Congressional Avenue in Quezon City proved to be fraudulent. For months, hapless shoppers had to ditch their groceries upon learning the store suddenly wouldn't accept Visa credit cards.
I've known a few who've lost a significant sum from ID theft, and something this important shouldn't have been left to be written by some hack.
An informal survey among professionals show they are alarmed at the high incidence of identity theft in the US, but surprisingly they still have a false sense of security that this is not going to happen in the Philippines because "we are not yet as sophisticated."Wake up, people. Remember the love bug virus, the crippling worm released in the wild in 2000 that caused businesses worldwide billions of dollars in damages? A 24-year-old Filipino college dropout was supposed to have created it.
What the HELL does that have to do with it? Anyway, we digress. Get a shredder. Btw, the easiest way to get your credit card number stolen is over the web. Paypal or bust.
Posted by Bulletproofvest at 05:33 PM |
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Yeah, and the Philippines isn't included in the paypal program...
I think the reason why the Philippines isn't included in Paypal is precisely due to the high incidence of credit card fraud.
I had the my credit card suspended and replaced because my card company found out one of the local merchants I've had transactions in the past were involved in fraud. Though my card wasn't compromised, they still had to change it -- just in case. Of course they didn't tell me which company it was. Labo. It was such a hassle and defeats the purpose of having the convenience of credit cards when you have to go on proving your identity. Sarap mag ala Tyler Durden. :)
Marc, Sassy,
Another thing I hate about the credit card banks in the Philippines is how your name and phone number inevitably fall in the hands of telemarketers. They're not as bad in the U.S. but they do get in the way of dinner, especially since you are surprised to find your name and number in the hands of say, someone selling timeshare homes in Cebu.
Not related to ID theft, but it's theft if they took your ID without your knowledge right?
Happy
As a merchant, I can say that credit card fraud is a real problem, especially with cloned credit cards, and I posted an entry from my point of view.