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Tag: credit cards

FBI Gives Bad Advice on How to Avoid Fraud with New Microchip Credit Cards

credit_cardsBy Steve Neavling
ticklethewire.com

When it comes to new technology to crack down on fraud, law enforcement sometimes offers the wrong advice.

That happened recently when the FBI told consumers last week to use their PINs with their new microchip-installed credit cards because “these cards are still targeted by fraud.”

Trouble is, most of the new chip cards don’t have PINs, McClatchy reports. 

The new chip is designed to better detect credit card fraud.

For example, a hacker would have a hard time replicating a counterfeit card.

Identity Theft Targeted 17.6 Million Americans at Cost of $15.4B

Identity theftBy Steve Neavling
ticklethewire.com

Identity thieves victimized about 7% of the U.S.’s adult population last year, the Justice Department reported.

About 17.6 million Americans older than 16 were targeted, The Washington Times reports. 

About 86% of those victims reported that identity thieves attempted to open credit cards or bank accounts in their name.

As a result of the thefts, victims lost a total of $15.4 billion.

Elderly people and household with annual incomes were disproportionately targeted.

DEA Agent Sentenced to 2 Years for Using Fraudulently Issued Government Credit Cards

By Steve Neavling
ticklethewire.com

A DEA agent was sentenced to two years in prison Monday after using fraudulently issued government credit cards to steal more than $113,000 from JPMorgan Chase & Co.

Keenya Meshell Banks, 41, of Maryland, was earlier convicted of wire fraud.

Banks was a program manager for the DEA and was responsible for approving and issuing government credit cards to DEA employees, the North Dallas Gazette reports.

Banks admitted submitting fake credit card applications using fictitious DEA employees and then using those cards for her person benefit.

In all, Banks said she obtained at least 32 fraudulent credit cards.

Justice Department Investigating Milwaukee U.S. Attorney for Alleged Misuse of Credit Card

By Steve Neavling
ticklethewire.com

U.S. Attorney James Santelle is under investigation on accusations that he misused the government-assigned credit card and violated a law barring federal employees from some political activities, The Milwaukee Journal Sentinel reports.

The Department of Justice is leading the investigation, which started more than a  year ago following a routine audit.

Investigators are trying to determine whether the credit card was used for non-official use, like food.

Santelle, who works in Milwaukee, declined to comment.

“I am not in a position to comment other than those matters are both with the Department of Justice,” he said Monday.

Feds Charge 14 Romanians With “Phishing” Internet Scam to Get Peoples’ Personal Info

By Allan Lengel
ticklethewire.com

Fourteen Romanian citizens apparently banked on the gullibility of mankind.

Federal authorities in Connecticut last week announced charges against the 14 for allegedly getting personal information from people on the Internet through a scheme known as “phishing.”

The indictment includes allegations that one or more of the defendants  in June 2005  sent a spam e-mail to people,  including a resident of Madison, Conn., which purported to be from Connecticut-based People’s Bank, authorities said in a press release.

“The e-mail stated that the recipient’s online banking access profile had been locked and instructed recipients to click on a link to a web page where they could enter information to ‘unlock,” the U.S. Attorney’s Office wrote.

Authorities said the web page looked as if it was from People’s Bank. In reality, it was hosted on a compromised computer unrelated to People’s Bank.

Authorities alleged that the defendants shared thousands of e-mail messages that contained credit or debit card numbers, expiration dates, CVV codes, PIN numbers, and other personal identification information such as names, addresses, telephone numbers, dates of birth and Social Security numbers.

The defendants then allegedly used the information to access bank accounts and lines of credit to withdraw funds without authorization, often from ATMs in Romania.

In addition to People’s Bank, authorities said the group targeted financial institutions and companies including: Citibank, Capital One, Bank of America, JPMorgan Chase & Co., Comerica Bank, Regions Bank, LaSalle Bank, U.S. Bank, Wells Fargo & Co., eBay and PayPal.

Charged in the indictment are CIPRIAN DUMITRU TUDOR, MIHAI CRISTIAN DUMITRU, BOGDAN BOCEANU, BOGDAN-MIRCEA STOICA, OCTAVIAN FUDULU, IULIAN SCHIOPU, RAZVAN LEOPOLD SCHIBA, DRAGOS RAZVAN DAVIDESCU, ANDREI BOLOVAN, LAURENTIU CRISTIAN BUSCA, GABRIEL SAIN, DRAGOS NICOLAE DRAGHICI, STEFAN SORIN ILINCA and MIHAI ALEXANDRU DIDU, all residents of Romania.

 

Justice Dept: One of the International Kings of Credit Card Theft Data Captured in France

credit_cardsBy Allan Lengel
For AOL News

WASHINGTON — A resident of Moscow, “BadB” lived the glamorous life, hopping jets to Europe, freely spending money — even as U.S. authorities marked him as one of the world’s “most prolific sellers” of stolen credit card data.

French authorities arrested Vladislav Anatolievich Horohorin, 27, at the airport in Nice this weekend. Federal law enforcement authorities said he had apparently been living it up on the French Riviera. At the time of the arrest, they said, he was carrying some casino-issued cards that give high rollers additional privileges.

The arrest was trumpeted today as a big catch for authorities working to crack down on the ever-growing and menacing problem of credit-card data and identity theft, though officials provided no financial estimates on the losses involved.

To read more click here.

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Master Hacker of Credit Cards Gets Record 13 Years

hacker-artBy Allan Lengel
ticklethewire.com

Max Ray Vision’s impressive hacking skills were only equal to his impressive prison sentence: 13 years — the longest hacking sentence in U.S. history, according to the website WIRED.

Last Friday in Pittsburgh, a federal judge sent the skilled San Francisco hacker off to prison and ordered him to pay a whopping $27.5 million in restitution for his masterful theft of credit card numbers, WIRED reported.

The San Francisco computer hacker was accused of stealing roughly two million credit card numbers from banks, businesses and other hackers.

WIRED reported that he “ran an online forum for thousands of identity thieves called CardersMarket, where he sold credit card magstripe data to the underground for about $20 a card. He was caught with 1.8 million stolen credit card numbers belonging to a thousand different banks, who tallied the fraudulent charges on the cards at $86.4 million.”