Slashdot Mirror
Study: $1.8 Billion In Reshipping Fraud With Stolen Cards Each Year
An anonymous reader writes: Researchers from the University of California, Santa Barbara and others studied the economy of how criminals monetize stolen credit cards by operating reshipping scams as means to cash out, KrebsOnSecurity reports: "A time-honored method of extracting cash from stolen credit cards involves "reshipping" scams, which manage the purchase, reshipment and resale of carded consumer goods from America to Eastern Europe — primarily Russia. A new study suggests that some 1.6 million credit and debit cards are used to commit at least $1.8 billion in reshipping fraud each year, and identifies some choke points for disrupting this lucrative money laundering activity. [...] disrupting the reshipping chains of these scams has the potential to cripple the underground economy by affecting a major income stream of cybercriminals. By way of example, the team found that a single criminal-operated reshipping service can earn a yearly revenue of over 7.3 million US dollars, most of which is profit."
Wow, that sounds even better than the other MLMs, tell me more!!
Lost at C:>. Found at C.
Because every American would set his PIN to "4444".
And, it might take a millisecond longer to buy a Big Gulp and bag of chips and if there's one thing you never want to do, it's make an American wait an extra millisecond for his Big Gulp and bag of chips.
You are welcome on my lawn.
If the purchase is large or the card isn't swiped, simply send a verification code to the customer's phone for that transaction that they have to enter.
So in order to complete the purchase I have to drive home, get the verification code, and drive back to the store?
No thanks.
it probably wouldn't work for you anyways, these things require touch-tone.
lucm, indeed.