Final Blog

http://www.thestar.com/Crime/article/592401

Summary:
This article is about a credit card fraud ring that had happened in a high-class women's spa place in downtown Toronto. In this incident, there are approximately more than 200 victims that had their money cheated away. The suspects used a PIN pad device that the spa to assess all the credit card users' information during spring and summer in 2008. They used the money to buy clothes and open businesses of their own. Police officers urged people to check their credit card statements often so that they can prevent unwanted frauds, and eliminating the chance of being a victim of fraud schemes.

Relation to the book

Recalling from a few chapters back, we covered a chapter about personal banking and financing. There is a section that talks about credit cards and how we should always be double checking our monthly bank statements to look out for errors (one should always keep a detailed record of his or her transactions so that he or she will know the exact bank balance anytime). On the other hand, individuals can easily make reference to any particular payments or transactions that had occured during the month. This is the most effective solutions to which individuals can find out instantly if there is a fraud in credit or debit card transactions.

Reflection

It kind of shocks me with how there are actual cases of credit card frauds that are happening in Canada. I feel very angry when i find these types of articles. Why? That's because I don't understand why people do such things. Most people earn money with their own effort and skills they own, so what makes it okay for those criminals to cheat away their money like that? Humans all cheat. HOwever, cheating other people's precious money is just way too over. I really hope that they can set up stricter punishments for people cheating like this. On the other hand, we should always look carefully at our monthly bank statements, and beware of these frauds. When we are being careless individuals, these credit-card-crime-do-ers will target us and take advantage of our money. Thus, remember to double-triple check bank statements.