liability and unauthorized charge

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japanjapan

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Chinese
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Dear teachers,
Now I am reading an article about internet shopping security and it tells some consumers' credit card numbers were stolen and the hacker publicized those number. It writes " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

My question is that what "liability" mean here? does it mean "responsibility" or "loss" or anything else?
The company lost the numbers, will consumers lose/pay $50?
What does unauthorized charge mean?

Please help
thanks a million!
 

David L.

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Nov 7, 2007
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I am currently reading an article about Internet shopping security and it says some consumers' credit card numbers were stolen and the hacker publicized those numbers. It writes: " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

My question is, what does "liability" mean here? Does it mean "responsibility" or "loss" or anything else?
The company lost the numbers, will consumers lose/pay $50?
What does unauthorized charge mean?

'liability' means being responsible for something, such as a debt. If someone steals my credit card and runs up charges of hundreds of dollars, do I have to pay (am I liable/responsible) for all of that amount to the credit card company? Fortunately no. Crredit card companies limit a person's liability in the event of fraud, and in this case, it is to 50 dollars.

An 'unauthorized charge' is any debit made to your credit card for a purchase or payment of a service you did not ask for or solicit. That includes any fraudulent charge to the card.
 
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banderas

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Mar 20, 2008
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Academic
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I am currently reading an article about Internet shopping security and it says some consumers' credit card numbers were stolen and the hacker publicized those numbers. It writes: " In terms of the actual consumers, their liability is at most $50 or zero. In general, credit card holders are only responsible for up to $50 of any unauthorized charge."

My question is, what does "liability" mean here? Does it mean "responsibility" or "loss" or anything else?
The company lost the numbers, will consumers lose/pay $50?
What does unauthorized charge mean?

what "liability" means here;-)
 
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