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verified by visa and card fraud transactions?

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  • 01-12-2018 3:49pm
    #1
    milltown
    Registered Users Posts: 4,616 ✭✭✭


    In the past two days I received four sms messages from BOI with passcodes for verified by Visa transactions that I did not initiate.

    The first was for £140stg in SportsDirect, then three in quick succession for £1500stg each in Footasylum.
    I contacted the 365 phone line and spent about 40 mins talking to various reps, ending with card security saying they will investigate, issue a new card, and that it could take five working days to sort out and have all the money refunded.

    I have just checked and the £140 and two of the £1500 transactions have been debited from my account. The £140 appears to be a completed transaction and the 2x£1500s show as "in progress".

    What is the point of these passcodes as an extra level of security if the default seems to be to let them through regardless? If the system is so flawed as to allow enough guesses at the passcode per transaction that somebody may be able to brute force a six digit code then again, what is the point?

    And really, why am I over €3500 down a few weeks before Christmas while, essentially incomplete, transactions seem to be erring on the side of the criminals?


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    #2
    Bank of Ireland: John
    Closed Accounts Posts: 204 ✭✭Bank of Ireland: John


    milltown wrote: »
    In the past two days I received four sms messages from BOI with passcodes for verified by Visa transactions that I did not initiate.

    The first was for £140stg in SportsDirect, then three in quick succession for £1500stg each in Footasylum.
    I contacted the 365 phone line and spent about 40 mins talking to various reps, ending with card security saying they will investigate, issue a new card, and that it could take five working days to sort out and have all the money refunded.

    I have just checked and the £140 and two of the £1500 transactions have been debited from my account. The £140 appears to be a completed transaction and the 2x£1500s show as "in progress".

    What is the point of these passcodes as an extra level of security if the default seems to be to let them through regardless? If the system is so flawed as to allow enough guesses at the passcode per transaction that somebody may be able to brute force a six digit code then again, what is the point?

    And really, why am I over €3500 down a few weeks before Christmas while, essentially incomplete, transactions seem to be erring on the side of the criminals?


    Hi milltown,

    Thank you for reaching us to us. We are very sorry to hear this has happened to you.

    Please be assured that our card security team are investigating these fraudulent transactions thoroughly and that they will be in contact with you as soon as they have an update. I can also assure you that as promised you will have your new card and money refunded within 5 working days.

    If you need to discuss this process and how this fraudulent activity occurred on your account you will need to talk to one of my colleagues on the card security team (01 6798993).

    Thank you for being so vigilant and acting quickly on this. We sincerely hope this issue is sorted for you in the coming days.

    Many Thanks

    John[font=Arial","sans-serif]01 6798993[/font]


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