Monday, October 27, 2008

WAMU customers get ready. Chase is now protecting your assets.

From Consumerist comes this tale of Chase and their outsourced security department. As a WAMU customer, I am frightened at the prospect that my financial security is in the outsrouced hands of Chase's security department.

A former Chase call center rep tells the story about this one thief who was able to rip off one customer for over $40,000, thanks to his constant outwitting out the internationally out-sourced security department. It wasn't that hard. Over and over again, he was able to commit credit card fraud just knowing the guy's name, social, and mother's maiden name.

The Americans would beg and plead with the Filipinos to not unblock the account, and over and over again they would. Says our insider, "if US security had been able to intervene from the get-go, he would never have been able to do so much financial damage. For the rest of his life, the true owner of that account will be dealing with the effects of this crime."

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