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Identity Theft Credit Card Fraud

Study finds thieves using credit card chargeback policies against online merchants

Nine out of ten online merchants leave themselves vulnerable to credit card fraud, according to the results of a survey conducted by SignatureLink and CardNotPresent.com. In a statement to reporters, SignatureLink CEO Greg Wooten noted that only 10 percent of websites surveyed require shoppers to accept terms and conditions using voice consent, e-signature, or physical [...]

Categories: Identity Theft / Credit Card Fraud
FTC closes fake platinum credit card operation

Marketers behind the "Platinum Trust Card" and the "Express Platinum Card" can never sell credit cards or make cold calls again, according to the Federal Trade Commission. According to FTC officials, a Philadelphia company operating under the names Apogee One Enterprises and Marquee Marketing used telemarketing services to pitch platinum credit cards that they claimed [...]

Categories: Identity Theft / Credit Card Fraud
Skimming threatens debit card users, while fraud strikes 1 percent of credit card transactions

Twice as many credit card fraud cases involve phone or online transactions than retail sales, according to new data from FICO. However, researchers found that sophisticated counterfeit rings have raised the stakes for merchants over the most recent twenty month survey period. Researchers reported an increase in "skimming," a technique where criminals tamper with ATMs and [...]

Categories: Identity Theft / Credit Card Fraud
Visa offers five tips to avoid email phishing scams

Visa Inc. security professionals want to welcome National Consumer Protection Week with stronger awareness about e-mail phishing scams. In a statement to reporters and on a new, Visa-branded security website, the company's fraud researchers offered five steps to reduce the threat of identity theft and financial loss. 1. "Consider all email requests for personal or payment [...]

Categories: Identity Theft / Credit Card Fraud
Bank of America reissues credit cards after security breach

Some Bank of America customers in upstate New York got a new credit card in the mail recently, but not all were sure why. The bank sent replacement debit cards and credit cards to customers who may have had their financial information compromised by a third party. A television station in Rochester, N.Y., reported some customers [...]

Categories: Identity Theft / Credit Card Fraud, Bank of America
Stolen credit cards are targets for penny shaving

Law enforcement officials have warned Americans to avoid "salami slicing," except at the corner deli. That's the nickname of the technique that criminals have used for decades to "shave" pennies or dollars from transactions in large organizations. Now, it's a tactic that identity thieves now use to target credit card accounts. In the credit card version [...]

Categories: Identity Theft / Credit Card Fraud
Credit card thieves target hotel guests in their rooms

The latest credit card theft scheme is a play on the usual phone call scam, with an interesting twist: thieves are attempting to catch unsuspecting cardholders unawares by waking them in the middle of the night in their hotel rooms and pretending to be hotel staff. Credit card thieves have developed a new scam for hotel [...]

Categories: Identity Theft / Credit Card Fraud
California Legislation Helps Curb Card Fraud

In the interest of preventing credit card fraud, lawmakers and policy makers throughout the United States are introducing legislation that will make it more difficult for individuals to have their identity stolen from old sales receipts. In the past, federal laws have been enacted to help protect victims of identity theft; one specific example is the [...]

Categories: Credit Card Law, Identity Theft / Credit Card Fraud
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