Wednesday, 8 September 2010

$10 MILLION credit card fraud/theft... $9 at a time

quote [ IT’S easier to steal a million dollars a dollar at a time than a million dollars once. ]

Amazing ingenuity and diligence for thieves. This is a NYT article. If you can't access it, see extended for SO/PW and alternate link.

Alternate link (weirdly formatted):
http://www.economywatch.com/in-the-news/credit-cards-micro-fraud-macro-results-07-09.html

New York Times sign on: factsuser
Password: factsuser

Or see http://www.bugmenot.com

Or sign up, it's free and I have not gotten junkmail from them but of course who knows who they sell names to? If you can find the same info in the open, let me know and I will change the post.
[by maryyugo@4:51pmGMT] [+4 Interesting]

Comments

spazm said @ 5:37pm GMT on 8th Sep [Score:2 Interesting]
We've had a bank employee over here in the netherlands that skimmed 1 cent from each transaction he handled (this was ±15 years ago I think, pre-digital). Ofcourse nobody noticed that there was 1 cent missing and in total he skimmed about 2 million dollars... until someone did complain about 1 cent. I thought it was quite smart, too bad for him he didn't stop on time.
graham said @ 5:49pm GMT on 8th Sep
Supreme_Coconut said @ 8:34pm GMT on 8th Sep
SUPER MAN 3!
FINAL ANSWER!
maximumtodd said @ 10:50pm GMT on 8th Sep
Damn, I guessed "Office Space"
named i said @ 2:43am GMT on 9th Sep
"Swordfish?"
maryyugo said @ 6:07pm GMT on 8th Sep
I sort of remember that. The internet seems to make everything bigger and better.
remiq said @ 10:17pm GMT on 8th Sep
2,000,000.00$? 0.01$ per transaction? How many transaction he handled daily?
Sean said @ 2:36am GMT on 9th Sep
If he handled one transaction per minute, 60 minutes per hour, 8 hours per day, five days per week without breaks or vacations or days off, it would take him around 200 years and four months.
f00m@nB@r said @ 2:45pm GMT on 9th Sep
Now that's patience!
atter_cob said @ 6:49pm GMT on 8th Sep
"Most of the fraudulent charges that appeared on victims’ statements were for $9, but at different times, charges of just 20 cents were favored, Mr. Wernikoff said. Maybe the scammers should have stuck with $9: “There were more complaints about the 20-cent charges because they looked really odd,” he said."

Oh thanks for the good advice!


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