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Credit Card Fraud: Customers
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Data Lost On 650,000 Credit Card Holders - Pensacola News Journal - 01/18/08 - "Personal information on about 650,000 customers of J.C. Penney and up to 100 other retailers could be compromised after a computer tape went missing. GE Money, which handles credit card operations for Penney and many other retailers, said Thursday night that the missing information includes Social Security numbers for about 150,000 people."
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The TJX Data Breach exposed 45.7 million credit and debit card numbers when hackers accessed their computers in 2006. The hackers were ... able to access nearly a half-million customers’ driver’s license or state-issued ID information that was attached to their account. A prior blog details how a good friend found out his information was one of the nearly 50 million people put at risk. In his case, a thief used his information to ring up over $11,000+ on his Sears Master Card and then managed to open other accounts. He found out about the fraudulent accounts and charges after getting copies of his credit reports...and simultaneously -his first debt collector call. SEE BLOG
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The indictment alleges that E-Gold has been a highly favored method of payment by operators of investment scams, credit card and identity fraud, and sellers of online child pornography. The indictment alleges that the defendants conducted funds transfers on behalf of their customers, knowing that the funds involved were the proceeds of unlawful activity; namely child exploitation, credit card fraud, and wire (investment) fraud; and thereby violated federal money laundering statutes. The indictment further alleges that the defendants operated the E-Gold operation without a license in the District of Columbia or any other state, or registering with the federal government, and thereby violated federal and state money transmitting laws. The indictment alleges that this conduct occurred at various times from 1999 through December 2005.
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CardSystems processed credit card data for all major credit card companies, including MasterCard, Visa, American Express, Discover, JCB and Diners Club. An estimated 40 million customers were at risk; of these, 263,000 accounts were known to have been stolen.
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In another recent case, CD Universe customers were shocked when a Russian hacker calling himself Maxus was able to access the CD distribution company’s customer credit-card database in December 1999. The criminal then tried to extort $100,000 (and later $300,000) from the firm in exchange for not publishing the numbers. When CD Universe refused to pay him, the scoundrel posted the stolen numbers on a Web site and allowed anyone to have one credit card number at a time. Criminals were able to make fraudulent charges on the cards.
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TJX, the owner of TK Maxx (UK) and TJ Maxx (US), issued an earnings report today that claims the recent security failure, which exposed the credit card details of 45 million customers has cost the company US$12m. The earnings report ... refers to a similar charge expected in the next quarter. Outsiders, using estimates developed by the Ponemon institute of $186 per card estimated the total losses at $8.6 billion.
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