Credit Card Fraud - SPAIN

This story in the Daily Mail won’t restore confidence in the hapless banking industry - or in Spanish tourism. There does seem to be an appalling vulnerability in card transactions these days. I think it might be best to use them to draw cash - and then pay with the cash. Thoughts?

http://www.dailymail.co.uk/news/article-1229027/Millions-British-visitors-Spain-warned-victims-credit-card-scam.html

I have a particular aversion to using plastic, except for drawing cash from ATMs, or for on-line transactions when there is no alternative (booking flights, for example). Much prefer to use cash whenever possible. I even opt to pay whatever bills (utlities etc.) I can in cash, rather than give my account details to companies who, if not necessarily trying to defraud me, may be prone to make errors which become major hassles when trying to correct them; and besides that, I don't trust banks here (Spain, but anywhere for that matter) not to screw up standing orders / direct debits etc.

I recently opened an account with Solbank and received a Mastercard debit card with it, and they set up (free of charge) an SMS alert system to any transactions made with the card over a pre-determined (by me) amount. First time I withdrew cash at an ATM, I got a text message the moment the cash came out the machine. Pretty neat. (unless, of course, a thief has made off with your mobile as well as your card - especially if you put a sticker on the back of your 'phone with your PIN number on!)

Spain is slowly but surely killing the goose that laid the golden egg, this year I went to the Xanit clinic in Fuengirola to have a simple blood test, this was not possible without seeing a doctor cost 80 eur. He said whilst we are taking your blood we might as well test your cholesteral, turns out he ordered 20 other unnessary tests total cost 280 eur.

Not quite sure I see your point?

This 'story' is typical of the Daily Mail: words such as 'could' ,'it is thought that', 'might be'.........in other words,  the usual load of codswallop from that travesty of a newspaper.

If the Daily Mail told me tomorrow would be Friday I'd check my diary....

This story originated from Germany. The fraud having been discovered around September/October. The report having been published in the Financial Times Deutchland.

It has hit Visa and Matercard customers of German Cooperative Banks the hardest.

Die Spiegal reports that 100,000 cards have been recalled. Volksbank, Raffiesbank, Commerzebank and Deutche Kredit Bank have all been hit. The German Central Credit Card Commission has started an investgation.

C.P.P. the Fraud Protection Company UK has apparantly issued warnings.

The story has also been reported by the BBC and the Daily Telegraph.

It appears genuine, even though some reports may be sensationalising it somewhat.

The investgations are centered around a Spanish company and it is assumed nationalities, other than German, may be victims.

There is a danger that it could concern everyone who has a card. So it it best to be warned.

Regards

M

Still waiting to be notified by my bank/credit card issuers.

It's sensible to take precautions when using cards with or without sensationalised stories.