# Sherwood Music in Kitchener ripped off (6 Gibsons)



## vokey design (Oct 24, 2006)

Kitchener music store out thousands in case of credit card fraud
A Kitchener music store says it lost thousands of dollars in a case of credit card fraud.

Kitchener music store out thousands in case of credit card fraud


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## laristotle (Aug 29, 2019)

Ah man, that sucks.


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## greco (Jul 15, 2007)

Terrible! This kind of thing makes me so angry and it seems to be happening more and more.


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## vokey design (Oct 24, 2006)

laristotle said:


> Ah man, that sucks.





greco said:


> Terrible! This kind of thing makes me so angry and it seems to be happening more and more.


I know right, as if times aren't hard enough right now. They have always treated me fair there.

There are two crooks here, how can the credit card company not cover this?


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## Okay Player (May 24, 2020)

The good news is, they should have a pretty good description of the thieves.


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## greco (Jul 15, 2007)

Okay Player said:


> The good news is, they should have a pretty good description of the thieves.


How? This was all done online.


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## pckpat (Aug 19, 2009)

Back in the 70's when I was playing in a K-W band we used to rehearse in their basement. The Sherwood guys treated us really good. That's too bad, I know what it feels like to get ripped for thousands in gear. (Not pleasant at all.)


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## Okay Player (May 24, 2020)

greco said:


> How? This was all done online.


Then they'll have a shipping address.


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## Budda (May 29, 2007)

That sucks. Their insurance didn't cover it?


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## Guncho (Jun 16, 2015)

Brutal.


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## hondamatic (Feb 5, 2019)

The Sherwood folks are nice people. This is too bad for them.


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## Fox Rox (Aug 9, 2009)

What a shame. Marcus and the the team at Sherwood are the nicest people to deal with.


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## boyscout (Feb 14, 2009)

vokey design said:


> There are two crooks here, how can the credit card company not cover this?


Agreed. How can it be the responsibility of the merchant to know that the card is stolen? If the credit card is verified and accepted when the merchant processes it through the credit card company, it should be on the credit card company to absorb the loss and pursue the thieves. How could it NOT be that way?!

</end of fart into the wind>

Apparently the credit card companies don't charge high-enough rates to absorb the risks in their own products; they have to slough the risks off onto the merchants.


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## colchar (May 22, 2010)

Retailers are at the mercy of credit card companies. If they want sales, they have to make it easy on their customers so they take credit cards, and pay a fee for doing so (the higher end the card, the higher the fee they pay). Then when something like this happens and the credit card company makes a mistake (ie. authorizing the transaction) they put responsibility on the retailer. The game is definitely stacked int he bank's/credit card company's favour.

It is sort of like that stock thing going on with Reddit right now. The normal traders are shorting stocks. That involves borrowing stocks, selling them, buying them back at a lower price and pocketing the difference, and then giving them back to whomever loaned them. How in the fuck is it legal for them to sell something they don't even own? If any of us were to sell something we didn't own we'd be in jail, but not them because that game is also stacked in their favour.


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## vokey design (Oct 24, 2006)

colchar said:


> How in the fuck is it legal for them to sell something they don't even own? If any of us were to sell something we didn't own we'd be in jail, but not them because that game is also stacked in their favour.


They make it legal by passing laws via secret gatherings on islands lol. If you want to get really mad have a look at a documentary called money masters. Our financial institutions are disgusting if you ask me. If there was ever a need for government intervention .... well no one cares what I think so Ill shut up and pay my interest on a loan that was created out of thin air. 

Me when I think of this stuff:





This is three hours well spent:


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## butterknucket (Feb 5, 2006)

Sadly, it's a sign of the times.


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## Budda (May 29, 2007)

But sherwood's insurance doesnt cover them on this?


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## laristotle (Aug 29, 2019)

vokey design said:


> If there was ever a need for government intervention ..


Highly unlikely. Politicians create these loopholes to benefit themselves too.


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## butterknucket (Feb 5, 2006)

Budda said:


> But sherwood's insurance doesnt cover them on this?


I don't know. I'm sure the cardholder is protected, but is the store?


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## boyscout (Feb 14, 2009)

colchar said:


> It is sort of like that stock thing going on with Reddit right now. The normal traders are shorting stocks. That involves borrowing stocks, selling them, buying them back at a lower price and pocketing the difference, and then giving them back to whomever loaned them. How in the fuck is it legal for them to sell something they don't even own? If any of us were to sell something we didn't own we'd be in jail, but not them because *that game is also stacked in their favour*.


Well, not always. One of the short-sellers lost three BILLION dollars about a week ago shorting a company called GameStop. The Reddit-inspired rebellion is all ABOUT hitting the people who you say have the deck stacked in their favor. Small investors spurred by waves on Reddit have toppled the deck onto some of the bigger investors.

Some of the bigger investors have therefore been dumping other stocks to recover liquidity and have driven their prices down such that small investors might pile onto THOSE stocks. No apple carts are safe these days.

But we digress. Credit card fraud should be the problem of the credit card companies, not the merchants who accept their cards in good faith.


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## colchar (May 22, 2010)

butterknucket said:


> I don't know. I'm sure the cardholder is protected, but is the store?



Based on the story, apparently not.


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## colchar (May 22, 2010)

boyscout said:


> Well, not always. One of the short-sellers lost three BILLION dollars about a week ago shorting a company called GameStop. The Reddit-inspired rebellion is all ABOUT hitting the people who you say have the deck stacked in their favor. Small investors spurred by waves on Reddit have toppled the deck onto some of the bigger investors.
> 
> Some of the bigger investors have therefore been dumping other stocks to recover liquidity and have driven their prices down such that small investors might pile onto THOSE stocks. No apple carts are safe these days.


I understand what happened but the question remains - how can it possibly be legal to sell something you don't even own?




> But we digress. Credit card fraud should be the problem of the credit card companies, not the merchants who accept their cards in good faith.



Especially when the electronic payment system, and therefore the card company's own system, approved the transaction.


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## vokey design (Oct 24, 2006)

laristotle said:


> Highly unlikely. Politicians create these loopholes to benefit themselves too.


I agree 100% what needs to happen will never happen.


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## laristotle (Aug 29, 2019)

vokey design said:


> I agree 100% what needs to happen will never happen.


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## Distortion (Sep 16, 2015)

moral of the storey. Purchase with credit card must be done in person and a 4 digit pin used in the card holder to verify purchase. Just like the card policy stated. Read the story. Curb side purchase and all would be good.


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## Diablo (Dec 20, 2007)

the short selling issue needs its own thread...its a fascinating topic but it has literally nothing to do with the OP.

I personally think the CC companies need to own this, its their technology that has the vulnerability. And maybe that means they increase investigative efforts when this happens or put pressure on police to take fraud more seriously.


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