Credit Cards and Web Trade

Recently there have been several websites found that are actually selling other people’s credit card numbers. That’s right, all you have to do is click in Google and the site is there. You can join and anyone can add credit card numbers. The worst of this situation is that the authorities can’t act. Typically a hacker gets into the online retailers information and accesses the credit card details. From this point the card details are posted on the site and anyone can bid on the information. If you are the highest bidder you get the information.

There have been several victims in this type of crime. One person is Adele Darling. Adele bought a keyboard just before Christmas. She realized something was wrong only after she received her statement and other charges appeared.

The shop where the item was bought was hacked by these credit card fraudsters. When Adele did some further checking on these sites her name, address, phone number, email, and credit card numbers were up for sale. In short everything that has to do with her financial life was on these sites.

She had to stop her card through the bank, but that doesn’t mean the worst is over. She could have her identity stolen in several other ways by these criminals because they do have everything about her. The website she found her information on was one out of Pakistan. The true fact is that site hasn’t been shut down and it probably won’t be.

The card numbers on these sites are sold to criminals that buy high end merchandise like MP3 players, consoles and mobile phones. They take these goods and sell them in a trunk sale or online as a legitimate business. The fraudsters have been found to steal thousands of pounds worth of goods by using the credit cards and there doesn’t seem to be an end to the mess.

Andrew Goodwill is an expert with fraud. He has been analyzing the recent finds and even he says the crime is out of control. The UK is behind in internet policy making, which makes it even harder for one to stay protected. Last year the internet was labeled a playground for criminals and it truly is. They are able to get away with representing themselves as online retailers and hacking into legitimate companies. The police are not interested in dealing with this type of crime in most cases, according to the retail locations because it is harder to track.

The Dedicated Cheque and Plastic Crime Unit has been set up to handle these concerns though. While they admit internet fraud has risen, they are doing their best to get a handle on it. Most say this isn’t going to be enough. More action such as an e unit needs to be set up so that the online retailers and consumers are protected. Overall the retailers are told they need to be aware of hacker threats, and consumers are advised to pay more attention.

Back To Financial News May 2008

Are air miles credit cards right for you?
Things To Know About Bad Credit Credit Cards
Reasons For Having Balance Transfer Credit Cards
Advantages of Business Credit Cards
Consumer Credit Act Section 75
Cornwall Debt Increases
Credit Card Cloning
Credit Card Scam Unearthed
Credit Cards and Web Trade
Expensive Credit Cards
Gains for Credit Card Thieves
Government Help on Loans
Insurance and Refunds
Insurance Price Issues
Japan Investments
Lost or Stolen? How to Handle Credit Card Issues
Obtaining a Personal Loan
Payment Protection Insurance Scandal
All About Personal Loans
Police Credit Cards
What is the point of prepaid credit cards
Repossessions on the Rise
Vanishing Mortgages
Watch Your Credit Card Bill