How Thieves Make Fake Credit Cards
This new "magstripe scam" has likely not become very widespread, as altering a card's magentic strip data is very difficult. Special equipment is required to read and alter the strips and thieves must break a security code on the card itself and then defeat an automated system that watches for suspicious cards and activity.
Recently, a man was arrested at a mall restaurant in Edmonton, Canada. In his possession were thumb drives and computer printouts filled with credit card account data stolen from hundreds of U.S. and Canadian customers. Several prepaid gift cards issued by Visa and MasterCard as well as a device for embedding data on a magstripe were also found.
This follows the exposure of a Miami fraud ring in which six men used counterfeit credit cards to buy Wal-Mart gift cards. The men then used the cards to purchase $1 million in items at Sam's Club, a subsidiary of Wal-Mart.
New contact-less payment systems based on RFID tags are said to be more secure (check our post about e-passports for that one), but the standard magstripe will likely be in use for several more decades.
From USA Today
Related links:
- New Hi-Tech US Passports Hacked By German Researcher
- The Face of Credit Card Fraud
- A PIN for Your Credit






The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Can You Guess This Famous Face?
Boss Indifferent To My Suicidal Impulse, Says Stock Trader Who Lost Millions
Savings Experiment: Snow Removal
Tips for flying cheaper in 2012
Katy Perry Divorce: With No Prenup How Much Will Russell Walk Away With?
It's Pink!
James Sturm Boycotts 'The Avengers' Film over Marvel's Treatment of Jack Kirby
M.I.A., Fiance Benjamin Bronfman Split, Singer Rarely Sees Son -- Report
Alleged Squatters Found With Drugs, Handgun, Grenades, Pig














Comments
59
Subscribe to commentsernestFeb 19th 2009 9:07AM
this is a very good site it has help me to a great extent. but i will like to know how to identify a valid credit card.
chopstickSep 14th 2009 1:32PM
i say good on em everyone like a bit free cash every now and then so why not if you know how to do it go for it u are only taking off the rich to feed the poor good on ye
transporter6631.yahoo.comMar 31st 2010 9:02PM
when someone steal your credit card he is doing the same thing that credit card companies do but thiefs have no licence and they do .....remenber is credit,it is not your money.you just borrow it and pay it back with interest,so,who give a shit if some steal it and don't pay nothing back.
suh143Apr 26th 2010 6:52AM
ive learned lot of fake things from here
vickiAug 3rd 2007 8:55AM
You would think that they could figure some way to keep your money safe in this day and age. I am going back to checks!!!
AlexAug 3rd 2007 9:44AM
Just like cracking the WWII Enigma code, the credit card is a hurdle sooner, or , later will be conquered. It takes man to devise such technology, which he will hopefully improve in the near future to get a jump on hackers.
TomAug 3rd 2007 9:55AM
It seems to me that the consumer is responsible for far too much. Banks and other financial institutions send out millions of unsolicited credit card offers in the mail each day. I get several each week and as a postal employee, see people get hundreds in our little area. It just doesn't seem fair that our congress passed laws making the consumer responsible for identity theft. It seems to me that these financial institutions should be responsible for any theft. They are the ones that send these cards to the wrong people. When I get an unsolicited credit card offer, I write void on it and write please remove me from your mailing list and return it to the sender, at their expense. I still get many offers, but not as many as I did in the past.
TootersAug 3rd 2007 10:01AM
Tom, there's a website address that lets you get off of all the credit card solicitation lists. Wish I could remember it!! It's something with OPT OUT in it. I use to get 20 a week and now only get a couple. Does anybody know what it is?
PegAug 3rd 2007 10:10AM
The link to opt out of the pre-approved credit cards is
http://maxcredit.net/credit/opting-out
justalilAug 3rd 2007 10:11AM
http://www.google.com/search?hl=en&ie=ISO-8859-1&q=opt+out+of+credit+cards
in reply to the opting out of credit cards...not sure which one it is, but im gonna go look NOW.
so tired of shredding all the offers i get every day.
DarleneAug 3rd 2007 11:01AM
The web site is www.optout.com and I think it allows you to opt out of credit card and unsolicited credit offers for up to two years, after which you have to go back to the web site and reenter your info.
I have opted out of these credit card offers, but still receive some. I do the same thing with these as a prior writer: I write "VOID" on the offer, tell them to take me off their mailing list, and mail back in their postage-paid envelope. I figure if they are going to break the law they should pay the 41 cents and whatever manpower costs it takes to open and process what they hoped was a "bite".
curtis_e_karrAug 3rd 2007 10:20AM
Tooters that web address that you refer to is this: www.optoutprescreen.com
MLRAug 3rd 2007 10:23AM
I agree with Alex on the point that hackers will continue to attack technology, to break through the protections and steal-- it's their livelihood, albeit illegal. And it's contingent on the CC companies to keep one step ahead of them, which you'd hope they'd try harder at.
I do take exception to the Enigma analogy-- we hardly "conquered" Germany's Enigma code, we simply captured an intact decoding machine that allowed us to decipher every message the Germans sent. Even when they figured out we were breaking the code and added another wheel to their machines, we had a huge head start on cracking the more complex codes...
But I do agree on the general point.
JasonAug 3rd 2007 10:24AM
Vicki:
Going back to Checks isn't the best way to avoid being defrauded. Checks can be stolen or copied just as easily as anything else. All someone needs is your routing number, your account number and then a check printer which can be purchased nearly anywhere and they're more than likely going to be able to print off checks in your name and get at your money. Couple these scenarios with fake IDs which have always been fairly easy to get for anyone who wants to get them and you're at just as much risk using checks if not more. At least with most VISA debit cards you're not responsible for unauthorized purchases.
JIMAug 3rd 2007 10:38AM
GO TO:
WWW.ZERCO.COM
THEFT PROOF CREDIT CARD
BEING USED BY OTHER NATIONS
J DeesAug 3rd 2007 11:13AM
Don't give out your S.S number.
DOVEAug 3rd 2007 12:08PM
I WISH WE COULD ALL GET RID OF OUR CC'S AND JUST USE CHECKS OR DEBIT CARDS. HOWEVER, I TRIED THAT AND MANY, MANY, PLACES WOULD NOT ACCEPT, CHECKS, CASH, OR DEBIT CARDS. IT AS IF UNLESS YOU HAVE A CC YOU CANNOT NOT TRAVEL, OR DO MANY OTHER THINGS.
CarolynAug 3rd 2007 11:40AM
MLR
It seems to me if the CC companies were held responsible for the fraud/identity theft then the CC companies would be more inclined to try harder to stay a step ahead.
IMA GENEAug 3rd 2007 11:43AM
MAYBE THE ONLY SAFE WAY IS WHEN YOU PLAN TO BUY
SOMETHING YOU HAVE ENOUGH CASH ON HAND TO PAY
FOR IT.
OUR SOCIETY HAS BECOME TOO DEPENDENT ON CREDIT
CARDS, DEBIT CARDS, ETC.
WHEN I GET AN UNSOLICITED CREDIT CARD, I SIMPLY
SHRED IT, PUT IT BACK IN THE PREPAID ENVELOPE
AND SEND IT BACK TO SENDER.
PaulaAug 3rd 2007 11:50AM
the person who said they are going back to checks is sadly mistaken if they think that checks are somehow safer thqn credit cards. the fact is,that everything a thief needs to steal a person's money is right ther on your check. Your name, address, many times the phone number AND most importantly, your routing number and account number. And it can all be done electronically. I worked in the bank for a number of years and I saw how incredibly easy it is to take money out of a person's account. I suggest bill pay. Why? because it is anonymous and the bank will go to bat for you if there is ever an issue.