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How do credit card companies know when fraudulent charges are being made?

Curious about how credit card companies know when fraudulent charges are being made on your card? There’s a good explanation from someone who used to work in a fraud department for a credit card over at MetaFilter: I used to work fraud detection for a shall-not-be-named card service department, so I can walk you through my process that I used at the time…. It’s an interesting read.

I’ll also take this chance to plug our free ID-theft-protection web app, Wallet Garden. You have travel coming up soon, right? Might be worth taking a minute to set up your free account, and if you ever lose your purse / wallet, you’ll know exactly who to call to cancel the cards in your wallet.

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