Stolen Credit Cards Used to Donate…
| February 12th, 2008 |
Thieves who deal in stolen credit cards need to determine the legitimacy of those cards before they’re able to sell them or use them to make large ticket purchases. In the past, internet sites lax on security would be used to make small transactions to make the necessary confirmation. Symantec is now reporting a new verification trend by thieves – charitable contributions!
Here’s how it works: A small donation is made using the stolen card number which confirms the legitimacy of the card. The contribution falls under the radar of the credit card company who is on the lookout for suspicious activity that falls out of the normal pattern of individual card holders. Symantec speculates that credit card companies are less likely to contact consumers for verification of a small charitable contribution than one for an extravagant purchase.
Symantec exposed the new trend by sitting in on Internet chat rooms where credit card numbers are traded, says Zulfikar Ramzan, a senior principal researcher for the company. U.S. cards sell for $1 to $6 each and U.K. cards sell for $2 to $12.
Posted in News & Info
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply