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Fraud News

Credit card fraud in the United Kingdom could decline by 40% in 2011, according to a recent analysis from Experian PLC, which sells fraud prevention and credit reporting and monitoring services.
Experian says that credit card fraud decreased 36% in the second quarter compared to the same period a year ago.
Experian’s findings are based in part on its review of the proportion of fraudulent credit card applications to genuine ones, and says that 12 of 100,000 applications were fraudulent in the s...

Their mascot is a jaguar, his jaws open and ready to “take a bite out of crime.”
This isn’t your dog in a trenchcoat kind of operation any more.
“The jaguar is at the top of the food chain, it’s very smart,” explained Sgt. Darren Harris, who is overseeing the transformation of a former clerical area of the Santa Clarita Valley Sheriff’s station into the Crime Prevention Unit, an information center that can quickly switch into an Emergency Operations Center during a crisis.
Crime Prevention Unit Puts Technology On The Prowl

“A jaguar looks at its p...

AVG's latest Threat Report (33 page PDF) was released today and with it's 'warts and all' view of the world, offers limited hope for improvement any time soon.
Highlighted in the report was the growing move away from credit card hacking and towards other forms of monetary fraud; in particular mobile phone fraud.
iTWire asked AVG's CTO Yuval Itzhak for his thoughts on the matter.  Itzhak first pointed to the fact that with banks applying more and more protection to credit card transactions, there...

By COLLEEN LONG
updated 10/7/2011 2:54:20 PM ET
NEW YORK — Bank tellers, restaurant workers and other service employees in New York lifted credit card data from foreign tourists and residents as part of an identity theft ring that stretched to China, Europe and the Middle East and victimized thousands, authorities said Friday.
In total, 111 people were arrested after a more than $13 million spending spree in luxury goods, and five separate criminal enterprises were dismantled. District Attorney...



Federal regulators plan to take enforcement action against Discover Financial Services, one of the nation's largest issuers of credit cards. The allegation: Discover deceptively marketed to consumers programs that were supposed to protect consumers from being deceived.
At the heart of the issue are "fee-based products and programs" such as so-called identity theft protection plans, payment protection plans, wallet lost or stolen protection plans and a "credit score tracker."


Debit Credit Cards Stacked FinanceDiscover...

When New York City police and prosecutors recently announced they had charged more than 100 people in what they described as the largest identity theft bust in U.S. history, they also blamed U.S. credit card issuers for relying on outdated technology that makes Americans cardholders especially vulnerable to thieves. That's a problem we investigated in our June 2011 Consumer Reports story “House of Cards.”
As we explained, American credit- and debit-card data are usually stored unencrypted on a...

By: Lynn Oldshue, Editor
New interchange fee regulations go into effect this Saturday, October 1, but many consumers are already experiencing some painful consequences.
New rules that will cut the cost of the interchange fee for merchants have already helped trigger more fees for debit card use, some monthly charges on checking accounts, eliminated most debit card reward programs, and may end the convenience of using a debit card for small purchases.
Consumers may give little thought to the...
  1. Should You Use a Virtual Credit Card Number?
  2. How to protect yourself against fraud

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