Credit Card Theft is the most profitable of the current crimes paid. Here’s how it works.
The most sophisticated “Hackers” obtain your credit card information from hacking into bankcard service center or merchant computer servers for vast amounts card information. They also use email Trojan “Sniffers” in emails,that continue to get forwarded, and when the emails are opened those sniffers collect information from your computer or sensitive credit card information from your on-line purchases — which is forwarded to these hackers via the Internet. Most of these big hackers are overseas — where it is hard to stop them. They sell the card numbers to “Brokers”. Most of the big time brokers then sell the numbers to “Distributors,” who sell them to “Shoppers” to for their personal on-line use — or make duplicate cards for ATM withdrawals.
Other “Distributors” pass out small hand held scanners to waiters — as they can easily disappear with your card for as much as ten minutes. These scanners got from pocket to the palm of the hand, and will hold the credit card information from hundreds of cards a waiter secretly scans through it. These scanners are given back to the distributor who downloads the information from it. A new breed of scanners made to look like a book in public, are so powerful that they can grab magnetic strip information from all of your credit cards while they’re still in your wallet or purse — by simply passing by you closely.
Many distributors make duplicate cards from this information onto “White Card” blanks, with inexpensive printers that emboss, copy information to the magnetic strip, and affix the hologram logo. These cards are either sold to “Shoppers” or often the “Distributor” has a crew of “Shoppers” in his employ. These shoppers go an area with a high concentration of ATM machines — and quickly burn the card up for the maximum cash, before the banks get wise to the theft. While the cards are called “White Cards” because they use to be white — they are now look identical to the card you carry in your wallet.
The fact is that it is near impossible to protect your card information from being stolen — so you need to become aware of it being used. You can do this by checking your account on-line weekly, itemizing the charges on your monthly statement, and signing up with a credit bureau service that emails you when your balance change by the amount you set. Notify the credit card company’s fraud division as soon as you become aware of this — and you will most likely see the least inconvenience.
It is not a fact of if your credit card information will be stolen and used — but when. If you don’t watch for it — you might pay for some of it.
