FlyerTalk Forums - View Single Post - USA EMV cards: Availability, Q&A (Chip & PIN -or- Chip & Signature) [2012-2015]
Old Aug 30, 2014 | 2:02 pm
  #6551  
AllieKat
 
Join Date: Nov 2012
Posts: 3,537
Originally Posted by kebosabi
I dunno, this story seems wary enough about Costco

Costco employees report fraudulent credit card transactions totaling more than $60,000

The fraud ring involved a former Costco employee who fradulently used Costco shopper's AMEX cards to go on a $60,000 shopping spree in 3 separate Costco locations in the Bay Area.

Costco was lucky that this happened before the liability shift. If it occurred after October 2015, they're going to be the ones stuck with the $60,000 fraud cost.
Well to be totally fair they wouldn't be stuck with a $60k cost rather they'd be out the cost of goods for the 60k in purchases.
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