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Most online credit card fraud is caused by lost credit cards so if someone found a credit card they wouldn't be able to use it online.
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YARGH! Sorry to say but this is completely false. I know quite a bit about online billing and I can tell you that nearly 100% of credit card fraud comes from bogus sites collecting credit card information, and providing a real service. They trap all the needed info on the order page and the user is given access to a site or product, everything seems legit, until a short time later when fraud charges start.
There is no way to stop this type of fraud.
Credit card companies could easily stop fraud using any number of suggested methods that never seem to get passed the development stages... they won't though, it's a huge amount of income to them in the form of charge back fees. A perfect example of this type of mentality is bounced checks. You would think with the technology we have it would be impossible to pass a bad check. Will banks ever do it? No. Why? Same reason. Free money.
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