NEW DELHI: Credit card fraudsters racked up Rs 65 lakh by bleeding a leading private sector bank in a mindboggling operation that left both the bank and cops in a tizzy. There were two gangs working in tandem. And what has send ripples through the bank brass was the enemy within - a senior manager and a certified verification agent - all part of the well-oiled machinery that siphoned off cash. Police busted the entire network late on Wednesday and eight people have been arrested. But the bank...

By Jason Pohl (10/20/11 10:12am)
A surge in credit card theft in northern Colorado this week has prompted a police scramble and special investigation by the Larimer County Sheriff’s Office.
A formal investigation was called for on Tuesday after eight separate cases were reported to the office, according to John Schulz, the public information officer for the Sheriff’s Office.
There is “definitely a sense of urgency to try and identify where the problem is coming from,” Schulz said in an email to the...

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.

“A jaguar looks at its p...

With growing numbers of online buyers, a solution for comprehensive fraud protection extends to additional data checks using BinDB.
For Immediate Release
LEWES, Del./EWORLDWIRE/Oct. 20, 2011 --- Financial institutions, banks and payment providers increasingly concerned about credit card and gift card fraud can utilize an added layer of prevention through BinDB software and comprehensive data about banks around the world.
Either through a one-time purchase or through using the BinDB software,...

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...

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...