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Posts with tag credit cards

New Visa Card Features Keypad, Generates Random Security Codes


In response to popular concerns with online credit card fraud, Visa Europe has announced a newly designed credit card, complete with a keypad and digital number display, according to the Daily Mail.

While the credit card is of the usual size and features a credit card number and magnetic strip for use with conventional card readers, it does not have a security code number in the traditional sense. Instead, cardholders will enter their PIN into the keypad, which will then generate a random number on the display. This random number will serve as the cardholder's one-time security code, which can then be entered to make online purchases.

While we're all about ways to combat identity theft, and think that this card is as valid a solution as any, we still know better than to immediately jump on board with new technology, particularly when it has to do with money, and even more particularly when we're in the middle of a recession. We'll let some other folks try it first, and then have them tell us how it works out. [From: The Daily Mail]

British Hackers Using Stolen American Credit Cards

British Hackers Using Stolen American Credit Cards
If you've heard the news about the millions of credit cards stolen from supermarket chains over the past year or so, you've probably started to trust your little slabs of plastic a little less than you did before. You're liable to be even more wary now, as word is being spread that British hackers are planning a mass assault on U.S. credit card accounts using numbers snagged from hacked security systems.

The BBC reports that the thieves are planning to take the numbers stolen from American security lapses and attach them to fake credit cards. They'll then hit stores with self-checkout lanes (where they're less likely to be noticed) and "cash out" -- suck all the funds out of the accounts they possibly can. Hopefully, if your card was one of the ones intercepted by the much publicized security leaks, it's already been canceled and you've been issued a new number, and if so, you have nothing to worry about. But, if your card was snagged and neither your bank nor you were made aware, you might want to keep an eye out for a very large U.K. withdrawal on your statements! [Source: BBC News]

Hackers Who Stole Credit Card Numbers from Dave & Busters Arrested

International Hackers Steal Credit Card Numbers from Dave & Busters
The Justice Deparment on Monday said that a ring of international hackers has been busted after harvesting an untold quantity of credit card numbers from the servers of restaurant chain Dave & Busters. The hackers installed software on 11 of the company's 12 national servers that stole so called "track 2" data, which contains credit card numbers, expiration dates, and security codes, but no personal information.

The exact scale of the attack is unknown, but we do know that 5,000 credit cards from a single restaurant in Islandia, NY were compromised at one point and have been used in fraudulent purchases resulting in over $600,000 in losses. [Source: Wired]

Thieves Snag 4.2 Million Credit Card Numbers from Supermarket Chain



Since December of 2007, the massive grocery store chains Hannaford Brothers and Sweetbay were hit by one of the largest incidents of credit and debit card data theft the U.S. has ever seen. Hannaford Bros., which owns the supermarket chains in the Northeast United States and Florida, announced on Monday that thieves had snagged an estimated 4.2 million card numbers and expiration dates, though not names or addresses. The thefts occurred during the authorization process that takes place when users are buying groceries at the the checkout counter with a credit or debit card.

The Associated Press reports that 1,800 incidences of fraud have been associated with the theft, as well as some occurrences of identity theft. Hannaford doesn't associate credit card numbers with names and addresses, which has lessened the impact of the data theft, but it has also made it impossible for the company to identify and contact those affected. Customers seeking help or information are encouraged to call the company at 1-866-591-4580.

Though this is one of the largest instances of data theft in the country, it pales in comparison to the largest which took place in 2005, when hackers gained access to the systems of TJX Companies, the owners of Marshall's, TJ Maxx, and Bob's. In that theft, over 94 million credit and debit card numbers were compromised.

The most unsettling detail is that Hannaford seems to have little indication as to when or how the theft occurred. The company became aware of the theft on February 27, after reports of suspicious credit activity. The numbers were stolen sometime between December and that date, but Hannaford was unable, or unwilling to divulge further details. If major companies can't even be sure when or how their systems are compromised truly secure Internet transactions may be nothing more than a pipe-dream.

From InfoWorld and AOL News/AP

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