Hactivist groups Anonymous and LulzSec continue their holiday hacking routine called LulzXmas after stealing sensitive data from SpecialForces.com and Stratfor, a global intelligence firm, and then posting the breached information online. Read More
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15 Year Old Fraudster Impersonates Police
A fifteen year old in the Memphis, Tennessee area recently pleaded guilty to fraudulent use of credit cards, forgery and criminal impersonation charges after impersonating a police officer when calling victims to obtain their credit card numbers. Read More
eBay Acquires German Online Payment Company
eBay recently announced their purchase of BillSAFE, a service which allows consumers to shop online and receive an invoice for payment. Read More
Expect U.S. eCommerce to Exceed 6% of Total Retail Sales for Q4 2011
Using online sales on Black Friday and Cyber Monday as a leading indicator for the percentage of retail sales that will be made online in the United States during the fourth quarter The Fraud Practice estimates 6.02 percent of total retail sales in the United States to be transacted online during Q4 2011. See the
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Fraudsters Skimming Gift Cards Before They’re Activated
While the Credit CARD Act of 2009 included several provisions to protect consumers from hidden fees and expiration dates with gift cards, these popular holiday gifts can still be vulnerable to fraud. A gift card scam that made rounds this past holiday season involved skimming gift cards before they were purchased and waiting until they
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Consumers Switching Back to Credit Cards
During Visa’s fiscal fourth quarter credit card purchases grew 10 percent reaching $228 billion. Debit cards brought in more volume, $288 billion, but this was only an 8.1 percent increase for the quarter and marks the first time Visa credit card spending increased more than debit card spending since 2005. Read More
Banks Back Off Debit Card Usage Fees
Chase and Wells Fargo had been trialing $3 debit card usage fees in a couple pilot markets but have since decided to discontinue the monthly charge. SunTrust and Regions Banks also eliminated usage fees they were planning to implement on check cards. In early November Bank of America, who was originally going to adopt a
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Facebook Stops 600,000 Account Takeover Attempts Each Day
As the world’s largest social network and the second most visited website it should come as no surprise that Facebook sees a lot of phishing and account takeover attempts. Facebook’s Director of Policy Communications, Barry Schnitt, shared some insight on just how large of an issue account takeover attempts are, saying that Facebook stops 600,000
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Click Fraud Scammers with Massive Botnet Busted
A two year operation by the FBI called Operation Ghost Click has led to the arrest of six hackers who had built a botnet of over four million computers contributing to $14 million in click fraud. The federal indictment names seven suspects who were able to generate a lot of traffic by redirecting their malware victims
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Counterfeit Card Ring Resold Gasoline
For several years now fraudsters have been obtaining credit card numbers by hiding skimmers in gas pumps, but a fraud ring from Central Florida took this a step further. Not only did they counterfeit cards skimmed from consumers paying-at-the-pump, but they then used the counterfeit cards to steal large amounts of fuel which they later
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