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Stolen Korean credit card

 
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FastForward



Joined: 04 Jul 2011

PostPosted: Sat Nov 16, 2013 6:57 pm    Post subject: Stolen Korean credit card Reply with quote

So I think my card fell out in a taxi and I didn't notice. When I woke up, someone charded 228,000 won at a club in Gangnam.

Do credit card charge backs work the same way in Korea as they do in the states? I've been told that I am responsible for 70% of the amount, since I'm at fault for losing the card. Is this correct?

I know they don't check ID's when using the credit cards here in Korea, but I think it is stupid that they will take any credit card from anyone. What is stopping people from using stolen credit cards?

It is a Samsung credit card.
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Jake_Kim



Joined: 27 Aug 2005
Location: Seoul

PostPosted: Sat Nov 16, 2013 7:21 pm    Post subject: Reply with quote

When did you report the theft/loss of your card?
70% is not necessarily a golden rule of some sort, there could be some room for dispute if you called it in as soon as you had noticed.
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FastForward



Joined: 04 Jul 2011

PostPosted: Sat Nov 16, 2013 7:32 pm    Post subject: Reply with quote

Jake_Kim wrote:
When did you report the theft/loss of your card?
70% is not necessarily a golden rule of some sort, there could be some room for dispute if you called it in as soon as you had noticed.


So the 70% amount is typically what someone is on the hook for? Card was noticed stolen when I woke up. The card was used at 2:48 AM and cancelled at 11 AM the next morning when I woke up. So 100% charge back is out of the question?
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Jake_Kim



Joined: 27 Aug 2005
Location: Seoul

PostPosted: Sat Nov 16, 2013 7:58 pm    Post subject: Reply with quote

100% chargeback is, well, less likely.
Technically, responsibility goes both ways - cardholder's 'mismanagement' (loosing it) and the merchant's (the club) negligence to match ID and signature. You get 60-day retrospective protection from the date of your incident report, but this 'mismanagement' clause probably prevents 100% chargeback.
Recent cases suggest it'll likely be settled at 20~30% liability on the cardholder (you), and you might also be asked to pay a visit to Samsung Card HQ for detailed paperwork.
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FastForward



Joined: 04 Jul 2011

PostPosted: Sat Nov 16, 2013 8:05 pm    Post subject: Reply with quote

Jake_Kim wrote:
100% chargeback is, well, less likely.
Technically, responsibility goes both ways - cardholder's 'mismanagement' (loosing it) and the merchant's (the club) negligence to match ID and signature. You get 60-day retrospective protection from the date of your incident report, but this 'mismanagement' clause probably prevents 100% chargeback.
Recent cases suggest it'll likely be settled at 20~30% liability on the cardholder (you), and you might also be asked to pay a visit to Samsung Card HQ for detailed paperwork.


Thanks for the great information! How do you know all this? lol

I can see where some negligence would fall on myself, just pissed that someone can take my card use it and probably get away with it. Also frustrating is there was two charges, the first for a small amount and the second for a large amount, both at the same establishment. Like they were checking to see if there was money on the card.

Free night out at the club.

Once again, thanks for the great information.
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Jake_Kim



Joined: 27 Aug 2005
Location: Seoul

PostPosted: Sat Nov 16, 2013 11:04 pm    Post subject: Reply with quote

What has been laid out above is only the civil side of your case.
Criminality of such a fraudulent use of lost credit card is already established under Specialized Credit Finance Business Act, Article 70(1)3, punishable by imprisonment for not more than 7 years or a fine not exceeding 50 million Won; and
since the perpetrator has obtained and enjoyed economic benefit by deceiving other party by illegitimately presenting someone else's credit card as his own, charge of fraud under Article 347 of the Criminal Act also applies, punishable by maximum 10 years' imprisonment or fine up to 20 million Won.
Although such heavy punishments wouldn't be handed out in practicality since the amount in question is relatively 'small', it is nonetheless a crime under the law.
If you were a platinum or carte-blanche holder and had your proportional liability amounted to some tens of millions, for example, you would've already headed down to a police station and to that club for CCTV evidence and whatnot.
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