DENVER -- How is it that a man can snatch the purse from an elderly woman and then use her credit cards without being questioned at the store?

Denver Police are looking for the man being called the "Well Dressed Thief." He's believed to be in his 40s, balding with a light goatee. He dresses in a suit and is suspected of stealing the purses or wallets of at least three elderly women, and then using their credit cards to make high-priced purchases.

"He does this before they have time to cancel their cards and alert the authorities," said Denver Police Department spokesperson Sonny Jackson.

"They should look more closely at the credit card itself," said shopper Betsy Lowe. "They need to look at that name, not too many men would be named Betsy I don't think."

On Tuesday, Denver police believe the "well dressed thief" stole from a woman at the Safeway off Fifth Avenue and Corona Street. Sunday, a woman at a King Soopers in south Denver was targeted, and on Feb. 19 the theft happened at a Cherry Creek grocery store. The man was caught on surveillance video at Kmart, buying merchandise that had a security tag which needed to be removed. The man swiped the stolen credit card on a keypad that faces the customer. He had to swipe the card two different times. On the video, the checker never looks at the card.

7News called Kmart and asked how a man could use a woman's credit card. A Kmart spokesperson tells 7News that the checker failed to follow corporate policy to match the signature on the card with the receipt. This week Kmart reviewed the policy with all regional managers during a conference call, and also sent out an e-mail reminder to ask for identification without a matching signature.

"Sometimes you never even give it to the cashier, you just run it through the scanner," said shopper Allen Lowe. "I don't think I've ever been asked when you just swipe it yourself."

Surveillance video from Best Buy shows the "well dressed thief" walking out with a television and laptop. The video doesn't show whether or not the cashier checks the credit card signature or asks for identification.

"I would hope that the stores would take more care in looking at the identification of whose credit card their using," said Jackson.

7News contacted Best Buy to see what the store's policy is on credit card signature verification. Erin Bix from Best Buy Public Relations provided 7News with this statement:

"Based on our policy, the credit card verification processes we follow are consistent with the operating rules and regulations of the credit card issuers. They have strict rules and regulations in place to help prevent and identify fraud. Our policy for large purchases is to verify the back of the card is signed and to obtain a signature on the purchase. It's important to note Visa and MasterCard regulate that a retailer cannot decline a sale due to a customer being unable to produce identification."

Bix also provided this explanation:

"This is an unfortunate situation. However, we have processes in place to make sure that we do business in a way that's in the best interest of our customers and efficient for the company. To help ensure a secure and streamlined shopping experience for our customers, the credit card verification processes we follow are consistent with the operating rules and regulations of the credit card issuers. As you know, signatures can be easily copied and false identification can be created. That's why we primarily use a technology incorporated by the credit card issuers as the means of combating credit card fraud in our stores. Credit cards contain a security feature embedded in the card's magnetic stripe that gives protection against credit card fraud. The feature is transmitted to the credit card company during the electronic authorization process and validated by the issuing bank. Best Buy, along with other large retailers, is choosing to use this technology as its primary means of combating credit card fraud. It's also important to understand that Visa and MasterCard state in their regulations that a retailer cannot decline a sale due to a customer being unable to produce identification. Their regulations also indicate that credit cards with 'See ID' or 'Ask for ID' in the signature panel are not valid. However, credit card companies realize some customers do this and will allow us to check ID in this case. If this is how a customer who presents an unsigned credit card chooses to "sign" their card, we will accept it along with a valid ID."

"If you come up and your name is Mabel, and you're a white guy with a bald head, you're obviously probably not Mabel, so to ask for additional ID would help us in terms of catching the individual," said Jackson.

"If they ask for an ID, and they have to me, I say thank you for asking for the ID," said Betsy.

If you recognize the "well dressed thief" Denver Police want to hear from you.

"The other thing we want people to do is alert your loved ones, because if they're going out shopping; and we have our grandmothers, our aunties, our sisters that are of age; and they're out there shopping, we want them to be aware that he's out there and that they could be taken advantage of," said Jackson. "Watch your purse."