Credit Card Scam Alert

Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 798
Location: NJ
Posted: Mon Jan 10, 2005 9:03 am
Post subject: Is nothing safe anymore?

January 06, InternetRetailer.com — Verified by Visa security program used as bait in phishing scams. Visa’s Verified by Visa password program is being used as bait in e−mail phishing efforts to gain cardholders’ account information, says Brad Nightengale, who heads Visa USA’s department of emerging products. Verified by Visa is a program in which Visa eliminates online payment fraud liability for online merchants who provide a mechanism in their checkout process that lets shoppers enter a special Verified by Visa cardholder authentication password provided by a Visa card issuer. About four million out of 230 million eligible Visa cards issued in the U.S. are registered in the Verified by Visa program, and about 25,000 merchants participate in the program worldwide, Nightengale says. Because the security program has been widely publicized by Visa, phishing scams have begun targeting Visa cardholders to encourage them to sign up for it. Fraud experts say they have seen phishing e−mail with Visa logos that request recipients to submit their credit card account information and other data, such as the 3−digit card verification numbers designed to protect against fraud in card−not−present transactions.

Source: internetretailer.com/dailyNews.asp?id=13764

Do not let what you cannot do interfere with what you can do.

Ira

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Author: Board Monitor
BOARD MONITOR-ADMINISTRATOR
Joined: 05 May 2003
Posts: 502
Posted: Mon Jan 10, 2005 10:04 am

Thanks Ira. This is still a good program IMHO. Just NEVER respond to an e-mail! Go to their official website.

Best Regards,
Curtis Arnold
Board Monitor
U.S. Citizens for Fair Credit Card Terms, Inc.
http://www.cardratings.com
501-663-0314 PH 501-301-8474 FX

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