September
16
16
biggest ID fraud case
Category: Credit CardThe US authorities have charged 11 people in connection with the theft of credit card details in the country’s largest ever identity theft case.
read more | digg story
The US authorities have charged 11 people in connection with the theft of credit card details in the country’s largest ever identity theft case.
read more | digg story
For more than four decades, the shopaholic America has shown an insatiable desire to spend until our credit cards melt. Yet today, a sharp slowdown, record-high gas prices, high consumer debt levels, a plunging real estate market, and the growing green movement all seem to be conspiring to dethrone the credit card way of life.
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Consumers have some not-so-nice things to say about credit-card companies and federal regulators have given them the chance to air their gripes. In public comments on proposed credit-card rules, consumers complained about “loan sharks,” “crooks,” “leeches” and “usury.” Many said rates seemed to be raised arbitrarily and punitively.
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In a story straight out of Cory Doctorow’s Little Brother, three MIT undergraduates concocted a scheme to hack Boston’s transit payment system, the Charlie Card (no relation). The students managed to reprogram the cards to increase their credit balance, thus allowance them to ride the subway for free.
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A former Las Cruces Best Buy employee was indicted by the grand jury Thursday on charges of felony credit card fraud.
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