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11 Charged In TJX, Other Breaches
coondoggie writes "The Justice Department has charged 11 people in connection with the massive theft of credit card numbers from various retailers, including TJX, BJs and OfficeMax. Authorities say the group charged was involved in the theft of more than 40 million credit and debit card numbers. In an indictment returned today by a federal grand jury in Boston, Albert 'Segvec' Gonzalez, of Miami, was charged with computer fraud, wire fraud, access device fraud, aggravated identity theft, and conspiracy for his role in the scheme. Others indicted are from the US, Estonia, China, and Belarus." We've been following the TJX breach since the beginning.
Because they transmitted customers credit card information in plaintext over an unsecured wireless connection. Not saying they shouldn't be held responsible for their incompetence, but I'm shocked that they actually had to pay out $60,000,000 for it instead of just passing the blame.
Except that as long as you keep yourself covered by reporting fraud early, you don't get charged for those purchases that were not yours. Being responsible with a credit card is the answer, not burying your head in the sand.
How easy would it be to get fiscally wiped out by this kind of thing?
I've had a credit card "compromised" twice over the last ~10 years. In the first case, I noticed the fraudulent charges on my statement and contacted the card issuer. They promptly reversed every single one of the charges and my liability was zero. In the second case, the card issuer actually phoned me to ask about a series of suspicious charges. My statement wasn't even due to arrive for another couple weeks. When I told them I had not made the purchases in question, then promptly reversed every single one of the charges and my liability was zero.
IMO the real risk is identity theft - when a scammer gets hold of enough of your info to open accounts in your name, apply for credit, etc. It's never happened to me but I've heard it's a real nightmare to get corrected when it happens. Having a credit card may or may not make you more vulnerable to identity theft. I make it a policy to use a shredder on any paperwork that could potentially be used to build a profile on me ... nothing goes straight into the trash.
If libertarians are so opposed to effective government, why don't they all move to Somalia?
actually, with a proper credit card (not a debit card) you are not responsible for charges that are not yours. If you lose your card, and report it missing, the most that can be charged to you is $50. For fraud, you have to file a police report, and report it to your bank, but you should not be responsible for paying it. However, you might spend alot of time, filling out that paperwork, disputing problems on your credit history because of it, etc.. These protections do not exist for most checking, savings, or debit accounts..
If you order something online, and it doesn't get delivered or whatever, most card companies will allow you to request a charge-back, where they just reverse the charge, and then it is up to the merchant to deal with your card company...
What are we going to do tonight Brain?
http://en.wikipedia.org/wiki/Aggravation_(legal_concept)
Aggravation, in law, is "any circumstance attending the commission of a crime or tort which increases its guilt or enormity or adds to its injurious consequences, but which is above and beyond the essential constituents of the crime or tort itself."[1]
"Ahh! Arrogance and stupidity in the same package, how efficient of you!" --Londo Molari