Still waiting for my new, clean debit card. Now, I’m wondering how often and to what extent this kind of theft appears in, say, trading accounts associated with cards.Īlthough I was unaware that my credit union’s debit cards were essentially “watched over” by a card protection outfit, I’m now delighted to learn of it.Īnd I’m interested in finding out more about such businesses and whether they might be publicly traded or investable – considering what appears to be a phenomenon affecting a great number of users. It took a personal experience of the problem to alert me to the issue. He was able to recoup the money.Īpparently, this type of theft is going on quite a bit. Then, one of my sons told me, for the first time, about how $400 in purchases hit his card before he could shut it down. I was telling the guy behind the counter at the coffee shop about it and he told me his story about vacationing in Hawaii when suddenly the single debit card he’d been using was declined after a couple of unauthorized purchases – and his bank wanted to see him in person before issuing another. When I began to tell my family and friends about my experience with theft, I was struck by the number of others who’ve had similar experiences. Green pieces of paper with drawings of dead Presidents on them, just like the old days.
I haven’t received the new debit card and have been relying on the use of checks (where they are still accepted) and, if you can believe it, cash. The next day I did that and the credit union person told me – after another identification routine – that they’d be sending me another card and, in the meantime, make sure to destroy the one that had been closed. Then she said she was closing down the debit card so that it could never be used again and that I should call the credit union Tuesday (when they were open again) and have them send me another card. “So, you’ve made all of those purchases, is that correct, sir?” Then she began asking me about purchases from days earlier at locations that I recognized: my coffee shop in Boulder, the grocery store I go to and a restaurant where I’d had lunch. “Uh, no, I’ve never been there nor ever made a purchase there.” I have a dispute open with Paypal but I have no hope that they will address this.“Liverpool?” I said. Simple validation of the return address would help, but even with a valid return address, the scammer still profits and the customer incurs a loss. Paypal's dispute process is flawed and does not support the scammed customer. The scammer provides a fictitious international address so that receipt of the return will never be acknowledged so the scammer will never have to pay the refund.Īdditionally, an attempt to return the worthless product by the customer would cost so much that they are disincentivised to even bother, resulting in even more profit for the scammer.
#ACTIO PTE. LTD FULL#
When the customer inevitably declines the small refund offer, the scammer will offer a full refund contingent on the return of the worthless product. This was $19.80 in my case, which if accepted would result in a $46.18 loss for the customer and at least $30 in profit for the scammer considering shipping costs and the negligible cost of goods sold. When the customer files the inevitable dispute, the scammer will first offer a small refund. In my case, the advertised product was a periodic table with real elements attached for a total of $65.98 but the shipped product was a small piece of worthless plastic. Scammer advertises one product online and ships a different, inferior, and worthless product to customer. The Company current operating status is live and has been operating for 4 years.
The address of the Company's registered office is at the PEACE CENTRE building. I am a customer of this scam and Paypal has been ineffective in protecting the victim. (the 'Company') is a Exempt Private Company Limited by Shares, incorporated on 14 August 2019 (Wednesday) in Singapore. A company going by the names "." and "" among others is perpetuating a scam as follows.
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