Kid losses 30k with dad's card

The Watchdog

Dormant account
May 5, 2006
Costa Rica
You do not have permission to view link Log in or register now.

apparently this happened some time ago.

A young brithis boy lost 30k using his dad's card. Poor kid, he has a gambling problem.. It reminds me some years ago.. Only that I never did something like that...

Regardless of his mistake, I would like to learn which companies authorized those charges...

According to various articles he lost 30k in 30 minutes which is quite astonishing... It means that he must have charged the card at leas 3 times on one site for a lot of money... There not much details on how many sites he played.

If someone has further details on this story I will appreciate it... It will be good to learn which companies were so irresponsible to authorize those charges with out documentation or see if this kid had access to the documents to put them on file.

I believe a lot of the story is been focused and the kids and the gambling companies are not being mentioned. Is my belief that they are as guilty as the kid. It shows that their credit card departments is not experienced at all.
Not at all surprising.

If the cards had large enough limits they would have allowed the transactions. Casinos do not verify identity till a withdrawal is made, however a family member can probably gain access to the necessary documents. Had he won, I expect this would have come out OK, although the father would have queried the charges on the card and found out about the theft.
Many sites have limits on how much can be deposited by a card, however by playing many sites this can be overcome. It is likely that this happened when card companies could not detect whether transactions were for gambling as they can now. Many fraud alerts also operate on the number of transactions, and not the amounts, so 6 of 5000 each would probably go through, but 20 of 100 might not. It also mentions betting sites, and not casinos. These will allow higher bets from the start, depending on the information given at time of registration. Some big sports bookmakers think nothing of taking 5000 bets on single events.

Honestly, a credit card department that allows a $5000k charge as an initial deposit is doing bad.

1) High Charge back risk
2) Fraudulent activity.

If I am at a CC department the most I will allow a customer running his card for will be $500 as an initial, if they want to run it for more, go ahead and use an alternate deposit method or bank wire.

I do have worked for companies who will never allow those charges without identity verification.

And honestly, I see this news as call out there to all credit card departments in case they aren't doing this.

If you go to purchase a car with your credit card, and the car is worth $5000, I am sure they will request you some documents, plus to put the car under your name. If a customer wants to run $5k on my company with his Visa, he is more than welcome, first of all send me your id and copies of the card. I will validate that info, and then allow him to deposit.

If this kid was at a site in which he was allowed to run the card for at least 2000 pounds with out not even contact him, this site has poor service and fraud prevention.

I disagree that Casinos do not verify identities not until a withdrawal. I myself have denied purchases when a customer has processed $500 and he wants more. Is bad to say no to money, however you either send me your documents, or you are more than welcome to use another method... Period. This guy wants to use his card, so he shouldn't have a problem letting me know who am I dealing with.. and if never the less, he will have to send them prior a withdrawal, so go ahead... If he tells me he is taking his business somewhere else, very politely I will tell him go ahead, lets see if the next guy allows you to run your card for 10k without being identified...

Users who are viewing this thread

Meister Ratings