There is some likelihood that your credit card number is for sale in a dark corner of the Internet. The selling price? As little as $3.50 per number. On Tuesday, a huge crackdown on a international credit card fraud ring revealed just how sophisticated -- and prevalent -- virtual credit card and identity theft has become. Does this mean consumers should be paranoid about the prospect of some kind of credit card fiasco? Financial service companies say customers should not worry too much about...

Cybercrime's Impact on Payments BayPay Event - Santa Clara, CA Dear BayPay Member, Join us for our next event! Topic: "Cybercrime's Impact on Payments" Time: June 12, 2012, 6:00p.m. to 9:00 p.m. Location: SVB, 3003 Tasman Drive, Santa Clara, CA Before we start: 1. Finovate Spring 2012 is now wrapped up. Check out our tweets @danielchat 2. You can now download The BayPay Forum Mobile App from the Android Marketplace  3. We have created a complementary group reserved to the attendees of this ev...

By ROBIN SIDEL And ANDREW R. JOHNSONGlobal Payments Inc., GPN -9.06% which processes credit cards and debit cards for banks and merchants, has been hit by a security breach that has put some 50,000 cardholders at risk, according to people with knowledge of the situation.The full extent of the breach couldn't be determined, one of the people said. It wasn't immediately clear if cardholders have been hit by fraudulent transactions.Representatives of Global Payments, based in Atlanta, couldn't be...

How the high-tech mantra of “automation and innovation” helps a multi-tiered global fraud ring target high net worth businesses and individuals. Building on established Zeus and SpyEye tactics, this ring adds many breakthroughs: bypasses for physical multi-factor authentication, automated mule account databases, server-based fraudulent transactions, and attempted transfers to mule business accounts as high as €100,000 ($130,000 USD). Where Europe has been the primary target for this and other fi...

COLONIE — Bob Sobeck didn't need to call on his training as a former sheriff's deputy to know there was fraud afoot when he opened his small nonprofit group's credit card statement in November."I looked at the bill and saw a charge to China," said Sobeck, the executive director of the Alfred Housing Committee in Allegheny County. "And the farthest east I'd been was Albany."Specifically, The Desmond Hotel and Conference Center on Albany Shaker Road.Sobeck, who had been in town a month earlier for...

As far as criminal genius goes, physically stealing a credit card ranks somewhere between attempting to rob an armored car and stealing ice cream from kids in the park. It’s extraordinarily risky, but the payoff is usually about as rewarding as brain freeze.Often, a stolen credit card will be canceled before a thief even has a chance to use it. Other times, it’ll record every single purchase a thief makes and leave a nice little trail for the cops. Either way, when you steal a credit card, you...