Reports show that identity theft and misuse of credit card information is at an all time high these days. Credit card holders have to ensure that they are taking every step to protect themselves and their financial history from the potential for risk. Even the cards you are no longer using can carry potential risk.
Identity theft and theft of credit card information can have serious financial consequences that can impact people for years. U
Founder of credit card swipe machines and software, Robert Carr of Heartland Payment System continues to re-live
the shock of being hacked. In late 2007 enterprising hackers made their way into Heartland’s servers and found access to what was estimated to be around 130 million credit card numbers. With that thought in mind Mr. Carr hopes to find a solution to fraudsters hacking into what was thought of as a secure network.
Heartland’s components and software, store and use the 15 digit credit card numbers to verify transactions. This transaction often takes mere seconds to complete but a breach of the system gives a foothold to skeptical investors. The breach that happened to Heartland sent the stock from a solid $18 to sink to around $3.60.
Acting as a virtual middleman, Heartland takes a small percentage of each transaction to process purchases. Dep
A successful and very lucrative internet scam that has been in progress for about four years now has been busted this
week by the United States Federal Trade Commission. This scam was designed by some savvy internet thieves who utilized a massive fraud network of very small charges across a large number of card holders, resulting in the theft of millions of dollars from unsuspecting consumers across the United States. This is one of the many scams that have occurred over the last few years. The credit card industry continues to remain vulnerable to the threat of hackers despite advanced security systems used to protect data.
The Scam
The details of the scam and the specifics of who was behind it have yet to be determined. What authorities do know is that it has provided a very valuable and expensive lesson about the importance of secure credit card systems and protecting consumers from this type of fraud.
What happened was that the scam artists responsible for the theft found loopholes in the credit card processing systems. The
Credit card security is always an issue when transacting over the internet. This new twist on an old standby has people up 
in arms in Austin, Texas. Credit card numbers from restaurant guests at a local downtown hotel were stolen when enterprising fraudsters hacked into the hotel’s accounting network.
The hotel has fixed the security breach but it is not known exactly how many victims there are but local law enforcements have estimated that up to 700 credit card numbers have been stolen. Numbers from the guests of the Driskill Hotel restaurant were stolen along with patrons who stayed at one of the approximately three dozen locations managed by Destination Hotels and Resorts, the parent company of Driskill Hotel. T
Fraud charges are pending after a serious credit card fraud operation was uncovered in Gilbert, Arizona. Not 
just limited to credit cards, the man and woman team made up numerous credit cards as well as gift cards. It is thought that this operation was more than a local ring.
Fraud investigators reveal that initial accounts may reach into the tens of thousands of dollars. The financial losses to department stores such as Macy’s continue to escalate as the investigation uncovers more fraud victims. Home Depot also seems to be a target of the fraudulent cards.
The two involved, Christina Smith, 37, and Solomon Williams, 36, were found out after an astute employee wrote down the license-plate number of the vehicle after the team used fake cards to make purchases at the local Macy’s store. The
The theory of owning a small business used to be that you need to keep your business and personal finances separate.
This helps keep accounting accurate and allows the business itself to build it’s own credit history. With the recently enacted CARD act legislation, the benefits of business credit cards remain but with a few strong caveats.
Why the Changes?
The CARD Act was devised to offer more consumer protection for credit card holders. Because card companies began inflating interest rates, lowering grace periods, and essentially charging any amount of fee to turn a profit after record defaults, consumers had little protection and faced mounting debt daily. B
The central district police have nabbed an international credit card cloning gang. One of the members of the gang named Sahubar Maina Mohammad has been arrested on the same grounds.
“On August 18, owner of Spice Retails Ltd in Daryaganj area informed sub-inspector Dharmender about a `Spanish man’ who had come to the shop to buy cellphones. He was allegedly carrying a number of credit cards and the shop owner found his activities suspicious,” said DCP (central) Jaspal Singh.
The passport held by the person was found to be a forged one. “We found the credit card he used to make payment at the shop was cloned,” said a police officer.
Police enquiry revealed that “He came in contact with Kanchail, a Nigerian, who informed him that he had access to credit card data and he can prepare cloned credit cards.