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Credit card theft can affect both consumers and retailers

September 17, 2012

Stolen credit cards can wreak havoc on the victims of the theft, retailers and merchant services providers. can all face ramifications.

Stolen credit cards can wreak havoc on the victims of the theft, retailers and merchant services providers. can all face ramifications. In some instances, the person who’s had their credit card stolen will be told they must pay for someone else’s charges.

In one recent case, Canadian resident Mary Anne Mitchell had her Visa card stolen allegedly by her sister, Patricia Mason, the Ottawa Citizen reports. The card was taken, according to Mitchell, while she was in the hospital recovering from recent surgery. Despite the fact that Mason has been charged with fraud and possession of a stolen credit card, Mitchell is still being forced to pay $250 a month to pay the financial institution back.

Gerry Bullock, Mitchell’s ex-husband, said that the credit card provider should have taken more responsibility for the theft.

“CIBC Visa was asleep at the switch when they permitted a change of address without ensuring they were speaking to Mary Anne,” said Bullock in an interview with the source. “Visa is clearly taking advantage of Mary Anne’s inability to defend herself.”

There have been other issues for both merchants and consumers following a theft. InformationWeek reports that the Department of Justice arrested David Benjamin after he was accused of stealing nearly 50,000 credit cards.

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