Credit card fraud forced a Montreal businessman to close his online business, and he blames his bank for letting it happen. Thieves, using stolen credit cards, bought thousands of dollars worth of cell phone and computer parts from Vincenzo Lingordo’s web site, the now-defunct Lingordoiparts.com.
Transactions were approved for more than $13,000 U.S.
Three months after opening the site, Lingordo had to lay off his employees and shut down his web site. When TD Canada Trust notified Lingordo about the first fraud, he thought it was a one-off. The bank asked him to make his web site more secure. But when Lingordo later looked at his transaction details, 10 purchases, all in the month of January, were approved for more than $13,000 U.S., even though the addresses either weren’t provided or didn’t match the cardholders’ billing addresses. Lingordo appealed to the bank’s ombudsman twice, to no avail. Lingordo now feels burned and has no plans to return to e-commerce.
Read more at CBC News.
