Political Scandal Developing Surrounding Credit Card Donations?

October 8, 2012, Written By Bill Hardekopf
Political Scandal Developing Surrounding Credit Card Donations?

A new report released today from the Government Accountability Institute shows that nearly half the members of Congress do not require consumers to give their CVV number when making online credit card donations to their political campaigns.

The Card Verification Value number is the three or four digit number that is usually imprinted on the back of a credit card. Providing the CVV number when making an online purchase or donation proves that you actually have the physical credit or debit card, helping to protect the consumer and reduce credit card fraud.

The 109-page study–America the Vulnerable: Are Foreign and Fraudulent Online Campaign Contributions Influencing U.S. Elections?–gives the findings of an eight-month investigation into the fundraising practices of all Senate and House candidates, as well as both Presidential candidates.

The study found 47.3 percent of candidates do not require CVV protection for these online campaign donations, including President Obama’s website. The study found that Governor Romney’s website did require the CVV number on donations. Interestingly, the President’s website does require the CVV number when a consumer wanted to purchase Obama merchandise.

According to some political analysts, the failure to require a CVV number raises the possibility of illegal foreign campaign donations coming into a candidate.

The information contained within this article was accurate as of October 8, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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