Bank Fraud When Using Cards for Domain Transactions

5 months ago 11
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Hi everyone, I recently became a victim of bank fraud involving unauthorized transactions, resulting in a loss of around $7K. This experience has made me extremely cautious about using my bank and credit cards for domain transactions. This is the first time something like this has happened to me, and I’ve been using this card (not my primary card) for domaining since I started in 2015.
Given that buying and selling domains often requires using these cards, I'm curious about the strategies you all employ to avoid such incidents.

Questions:

Do you use separate cards for purchasing domains and receiving payouts from domain sales?
After receiving funds from a sale, do you transfer them immediately to another account, such as your primary account card?
Additionally, are there any other security measures or best practices you follow to protect yourself from fraud? Any advice or insights you can share would be greatly appreciated. Thanks in advance for your help!

The views expressed on this page by users and staff are their own, not those of NamePros.

I don't get it, did you somehow compromised your card info including cvv code? 3d secure and other forms of two-step verification is everywhere (i guess), how is that happened?
Sorry for your loss.

I don't get it, did you somehow compromised your card info including cvv code? 3d secure and other forms of two-step verification is everywhere (i guess), how is that happened?
Sorry for your loss.

I didn't compromise my card info or CVV code. I always take precautions to protect my information. Despite that, the unauthorized transactions still occurred. I suspect this might be an inside job from my bank, as I've heard other people with the same bank complaining about similar issues.

I would doubt that. Probably some fishing 🤷🏽‍♂️

Sounds like you don't even know the source of the fraud. A domain platform or your bank.

First thing is to figure that out to prevent something like that from happening again.

Next is to get a Paypal account if you don't have one. Then link a credit card to the PayPal account and use Paypal for your domain purchases.

Also, have you tried to initiate a chargeback on the credit card?

I would try to compile a list of all the sites you have used your bank card at and check to see if they had a data breach.

Get a credit card so you can use it to pay for domains and then use your bank card to pay off the balance. This way you don't carry a balance on the credit card.

Just let say you never share card details, Are you 100% sure nobody(your family,friend,gf etc) know or using your card? Also almost all bank have internal fraud departments that investigate unauthorized transactions / customer disputes, they can check everything related to the trx. IMO you should change your bank ASAP, if not possible- ask for brand new card. but its will be useless if you falling to phising site.

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