HMRC have a "little black book" of expected takings/turnover for all types of business in various locations and cross check submitted accounts against expectation - too far off the mark and you can expect them to take a longer harder look at your business.
A cashless society?
- Thread starter Pale Rider
- Start date
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HMRC have a "little black book" of expected takings/turnover for all types of business in various locations and cross check submitted accounts against expectation - too far off the mark and you can expect them to take a longer harder look at your business.
keithmac
Guru
If you look at your card receipts they never have full card numbers on so she must have been taking pictures of the cards?.
classic33
Leg End Member
Retailers copy has the full number on it, or used to.
D
Deleted member 26715
Guest
There was a scam where they linked 2 machines together, the machine that you saw was not the one that was actually making the transaction therefore the receipt wasn't correct, that way they got all your details including your pin.
OP
OP
Pale Rider
Legendary Member
Before chip and pin, some filling stations would take the card from you to run it through the machine.
Under cover of the glass screen and counter, they would also quickly swipe the card through a scanner to get details to clone it later.
Restaurants can do the same by taking your card from you while you are still sitting at the table.
Less common now with portable wireless card machines, although I'm told it's technically very easy for a fellow diner to electronically spy on what the portable machine sends to its base station.
I know that but it's enough if you know what your doing it turns out.
Still do - I got given a copy of the retailers copy last week in Spa Cycles. For some reason they seem to have difficulty generating the customers copy.
roubaixtuesday
self serving virtue signaller
Plastic notes make an effective tyre boot in case of an otherwise catastrophic failure.
DaveReading
Don't suffer fools gladly (must try harder!)
- Location
- Reading, obvs
Out of interest, does the machine send the PIN, or is that validated within the terminal ?
roubaixtuesday
self serving virtue signaller
I rarely use cash or card since I set up Apple Pay and it is linked to my cards. Apple Pay uses the same contactless principle but the card details that the merchant's POS terminal captures are token details and not the actual card details. Merchant staff can't use any of the details to make an online purchase or do a clone card. There is also the convenience of digital receipt on your phone and therefore you do not need the cashier to print one. I use my fingerprint to authorise payment so there is no need for a PIN after the usual number of transactions with contactless.
oldwheels
Legendary Member
- Location
- Isle of Mull
Computer flagged up anything not average for the type of business. I knew several VAT inspectors quite well and also knew our business was fireproof as the firm of accountants we used were known to be impeccable so far as complying with regulations so we never got done over by VAT inspectors.
DaveReading
Don't suffer fools gladly (must try harder!)
- Location
- Reading, obvs
Thanks for that. So if neither the PIN nor CVV needs to be sent to the bank's server, then hacking the wireless traffic from the terminal would be of limited value to a potential criminal.
