After the Bears game 60 Minutes had an interesting segment on credit card fraud. It seems most people are hesitant to make online purchases but readily use their plastic at the mall. This segment may make you think twice. Use the above link to watch the whole segment.
NOTE: (I rarely if ever watch the liberal biased 60 Minutes but this one caught my eye.)
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6 comments:
I did see it and it was quite unnerving. The blame game between the retailers and the credit card companies was interesting. I kind of agreed that it is the retailers responsibility to get rid of the data.
On a side note, I surfed after that episode and was on Fox News when they did a segment on a Sgt. from the Oak Brook police station who harrassed a resident who belonged to a group that challenged the village and the police dept. Oak Brook had to pay the couple 2 million bucks but never admitted guilt. The Sgt. used various computers to send them hate mail, do credit checks and... you get the idea. Turns out this asswipe is a friend of Drew Peterson and works with Steve Peterson. Interesting...
Don't mess with Drew.
I hope those guys don't get hold of my credit cards for their own good. If they can get any more out of them than my old lady has already, good for them.
They will get the same hypertension she gives me.
Here's our own resident rodnet on easy credit rip-offs!
http://hickeysite.blogspot.com/2007/11/rats-to-holes-shine-light-on-jesse.html
This won't affect my Link card will it?
The problem with expecting the retailers to do it is that there are soooooo many retailers. There are literally millions of places to use a credit card. So, if anything, we should be banning the retailers from storing credit card data in any way.
There are no more than a few dozen base issuers of credit cards. They should be required to store the data, and let them pass any costs on. They would be extremely easy to monitor and audit.
That thing about the FBI monitoring online sales of actual credit card information and user data is true, and its been widely reported previously. I can't remember for sure, but the websites where these transactions take place are (I think) hosted largely in the former Soviet Union.
And yes, they will sell stolen credit card data and identities individually or in bulk for almost nothing. $100.00 for four cards/identities seemed almost a lot compared to what I've read about
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