Saturday, August 14, 2010

Hundreds of Germans affected by credit card fraud

Living abroad, checking account in Germany, including credit card!

The threat of cyber-criminals will increasingly serious: on the internet are the card numbers, owner name and certification numbers turned up to 800 cards. The problem are obviously unsafe online stores ...
Hackers are apparently in possession of numerous detailed records German credit cards. The magazine COMPUTER BILD reported in its issue 18/2010 on one of those records, which the magazine was leaked from insiders. This includes: More than 800 credit cards, 339 of German users.

In hacker circles regularly circulate stolen credit card data, but are particularly volatile now emerged: owners name, card number, expiration date and the card verification number listed in the hackers list, which is available exclusively COMPUTER BILD. Even addresses, phone numbers and email addresses of the victims can be read there.

Criminals have this data, they can easily go on a shopping spree on the Internet. A victim of Munich reported that thieves have purchased for several thousand euros goods. And: "I had to commit to the bank to talk to anyone about it."

Apparently vulnerability in large Internet shops

Debt was "very likely not a trojan, but a security issue in large Internet shops," says COMPUTER BILD editor Olaf Pursche. A contacted hacker victim stated, arguing his credit card exclusively for shopping on eBay and used Amazon to have. Both companies from that there was a security hole.

Just the tip of the iceberg

The list of the 800 credit card data is from the hacker "Jet_Li" - and is by far not the only one. "Previously, numerous lists have been sold off over the Internet," says Pursche. The criminals make it a lucrative business: credit card per it earn 5 euros, with 800 cards each list is the 4000 € per record.

Expensive it is to stand against the cardholder, is purchased at the expense of the Internet.

COMPUTER BILD, in collaboration with the LKA Niedersachsen blocked all 800 credit cards. But the cards on other lists of Jet_Li leave abuse continues.

Credit card customers should check their bills carefully. Because: Fraudulent billings, up to four weeks later back post.

commercial fraud

When it comes to deciding Phoenix capital services: Courts are increasingly against the EdW
Trade, Economics, Finance, Banking & Insurance
Press release from: German consumer Ring eV (DVS)
The DV S helps injured investors.
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Erfurt, 12 August 2010. "More and more judges follow the reasoning of our trust lawyers and condemn the Compensatory Fund of Securities Trading Companies (EdW) payment in full or immediate Verbescheidung the damaged Phoenix investors," says Claudia Lunderstedt-Georgi, managing director of the German consumer protection ring eV (DVS). "Right now lie before the competent DVS-35 winning trust lawyer judgments, three of them even in the second Instance, "said Georgi Lunderstedt-on.

Here, the manager also points to a more recent success of the DVS in terms of debt service Phoenix: A finance company take over the process for a reasonable profit-sharing, the legal costs of the Phoenix investors concerning action against the Compensatory Fund of Securities Trading Companies (EdW). "After five years, still much of the 30,000 injured Phoenix investors are waiting for their total compensation from the EdW. Not all investors, it was there yet been possible to take the help of lawyers against the delaying tactics of the EdW to complete. Often this simply lacked the necessary financial cushion, "says Claudia Georgi Lunderstedt-off. "This is likely now to take over with the promise of our litigation funding partner, the legal costs of Phoenix investors, not be a problem anymore," said Lunderstedt-Georgi.

After calculating the DVS at least 10,000 injured Phoenix Investors will have the possibility that their legal costs and all costs are subject to risk in case of a process driven by the finance company. "We think the EdW is now threatening a mass mobilization, because many investors have already expressed their interest in the litigation funding announced," the Managing Director, DVS.
Click here to find out more!

For the next financial scandal

In 2005, Phoenix had to register capital services GmbH insolvency. This affected about 30,000 investors who had paid at least € 500 million. Taking into account the investors income due allocations amounted to 31.12.2004 the liabilities of the Phoenix to investors at € 809.778 million. In 2006, the co-responsible for the fraud people were sentenced to long prison terms. A 19 April 2007 decided upon by the insolvency court Frankfurt a. M. on the complaint of investors out by order of 29.10.2007 (AZ: 2 / 9 T 198/07 repealed). The Federal Court upheld the suspension in February 2009. Disbursements from the assets are therefore - not to be expected after a statement of the liquidator Phoenix - before 2015.

The Compensatory Fund of Securities Trading Companies (EdW)

The Compensatory Fund of Securities Trading Company is in accordance with § 5 Deposit Guarantee and Investor Compensation Act committed "... to take appropriate steps to compensate the creditors within three months of the occurrence of the case."

In the meantime, however, not just three months, but almost 2,000 days have passed since those waiting the 30,000 Phoenix-stricken investors to their total compensation, or at the conclusion of the compensation procedure. The compensation scheme has - with a few isolated cases - in February 2009, started to provide partial compensation. They will - they claim - pay a total of only 128 million euros.

EdW formed a "partial compensation" so that investors could be entitled so-called rights to separation and the first investor to make these claims and would thus adhere to the "bankruptcy estate" (which amounts to approximately € 250 million) would have to compensate. Only if the "bankruptcy estate is distributed," stand firm and the rest of the investors and damage could thus EdW-final compensation calculated. As long, however, significant assets are available, should EdW wait with the compensation or should they make only partial compensation.

As of 3rd June 2010 has decided the compensation scheme according to their own statements so far over 16 200 applications for compensation and promised partial compensation for a total of 73 million €. Therefore are still waiting more than 12,000 investors for a decision on their applications. To full compensation but also the other investors are waiting so far mostly in vain. In the approach of the EdW finds no support in the law.

The judgments

Due to the behavior of the compensation scheme, the DVS-trust lawyers have filed complaints against them and therefore fought so far total 35 winning judgments against the State EdW, of which three judgments already in second Instance. Four divisions of the district council in Berlin-Mitte and 15 civil chambers of the District Court Berlin have made these decisions independently.

First, the EdW was convicted of so-called failure to act on the activity (Decision of applications for compensation by clients) while the second was the EdW performance actions towards condemned to pay the remainder of the previously withheld compensation to the Phoenix-sacrifice (finding that the "partial compensation practice is illegal).

Wednesday, August 11, 2010

ATMs used for fraud

Data from 120 clients in Freiberg spied - In Moscow, lifted off around 200 000 €
In the district are angry bank customers, in Moscow, fraudsters rub their hands. By spying on debit cards at ATMs in Freiberg, a loss of more than € 200 000 was born.
Click here to find out more!
Even if you are alone: think of the ATMs with skillful manipulation of the data peering fraudsters cash card. In any case, one should therefore cover when entering the pin, the keyboard with his hand, police warns. Photo: Archive
Even if you are alone: think of the ATMs with skillful manipulation of the data peering fraudsters cash card. In any case, one should therefore cover when entering the pin, the keyboard with his hand, police warns. Photo: Archive
Almost half a year ago that the debit cards were spied by 120 bank customers in the region, but yesterday was the full extent of the fraud known. "Skimming" skim to German "," is the name of the maneuver, have abused the offender well-organized the data and the pin of the debit cards for their own purposes. In doing so they have manipulated in February and March, two ATMs Volksbank Freiberg and environment in which customers also lifted other regional banks money. Only in June 2010, the fraudsters with specially-made duplicates in Moscow have plundered the accounts of customers through more than 1000 German withdrawals and amounts in each case set 400-600 € in their own pockets.
By this time delay, the covered up their tracks fraudsters sent, acknowledged the police yesterday. To the door openers were probably mounted readers, with the map were copied. The light panels on the ATMs were exchanged and replaced by blinds, in which cameras were installed. Thus, the account holder at the pin input filmed as the police investigation.
With daily inspections of ATMs by the employees themselves believed the Volksbank Freiberg protected against such fraudulent schemes. But the security systems have been tricked to admit Board Member Armin Fuchs. "The perpetrators are technically very well equipped and highly professional steps," said his knowledge.
Neither the employees nor the customers who had, after repeated reports of skimming has become very cautious, be struck by the manipulation. At the machines themselves were subsequently scarcely been noticed traces of technological change. Nor let say exactly when and how the perpetrators of the ATMs have rebuilt. They may be middle of the night just placed a sign "device out of service", working behind a curtain, wondering Fuchs. When the money was withdrawn more than two months after the "skimming" in Moscow, the video recordings, giving information on the perpetrators and their actions were contained, long erased.
To improve the protection of the bank and its customers, the Volksbank Freiberg will now share their ATM devices to a newer generation, starting in the center Freiberger, assured the Board member. The customers of the banks can recover the damage, the People's Bank is insured themselves against such fraud. But for how long? Because banks are inundated with such downright fraud, is standing for fox, the question whether the system generally functions yet.
The series of fraud in Freiberg is the most spectacular case of "skimming" in the district of Ludwigsburg. Unlike other counties in the region of Stuttgart is Ludwigsburg been spared so far, a spokeswoman for the police yesterday drew record. In 2005, several cases in Benningen, Stuttgart and in the city of Ludwigsburg were known. In February 2010, it had to do the police in Vaihingen with a series of offenses for the 30 bank customers by a total of 60 000 € were betrayed.
Caution is still the highest degree (see info-box). Knapp 1100 ATMs were manipulated in Germany alone in the first half of 2010, statistics from the Federal Criminal Police Office. In addition to North Rhine-Westphalia and Berlin is a focus of the manipulations in Baden-Wuerttemberg.

Wednesday, June 30, 2010

credit card fraud detection systems

The Enhancement of Credit Card Fraud Detection SystemsAlong with the rise of credit card use, fraud is on the rise. To address fraud, financial institutions (FIs) are employing fraud detection systems (FDS),however, the majority of cases being flagged by this system are False Positives. The possibilities of enhancing the current operation by post processing the FDS output constitute the objective of this book. The data used for the analysis was provided by one of the major Canadian banks. Based on several variations and combinations of features and training class distributions, different models(more than seventy) were developed to explore the

Thursday, March 4, 2010

Audacious Frauds, Scams, and Cons

There's a Sucker Born Every Minute: A Revelation of Audacious Frauds, Scams, and Cons -- How to Spot Them, How to Stop Them

There's a Sucker Born Every Minute: A Revelation of Audacious Frauds, Scams, and Cons -- How to Spot Them, How to Stop Them. One in nine Americans will lose money as a victim of fraud.
• Every man and woman in the country (and every child with an email address) will be targeted by professional fraudsters-multiple times.
• Seven out of every eight frauds go unreported.
• Most fraudsters will get away with their crime.
• Government agencies and crime watchdogs suggest that there could be up to $100 billion worth of fraud in this country in any given year.

How You Can Profit from Credit Cards

How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line
In How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom LineCurtis Arnold explains exactly how to maximize your rewards so you're quite literally getting free money and also outlines winning strategies for negotiating the lowest interest rate and using balance transfers to your advantage. Anyone who wants to build credit, improve their credit, or profit from their credit cards should read this book." --Liz Pulliam Weston, MSN Money Personal Finance Columnist and Bestselling Author of Your Credit Score and Easy Money "Curtis Arnold is America's premier credit card expert. Whether you're trying to get your first card, compare credit offers, or figure out how to beat the credit card companies at their own game, Arnold's wisdom and insider tips will prove invaluable." --Lynnette Khalfani-Cox, The "Money Coach" and Author of The New York Times Bestseller Zero Debt: The Ultimate Guide to Financial Freedom "If you have had

Wednesday, February 17, 2010

money fraud help

Catch Frauds - Counterfeit Money Detector with UV and Watermark Detection

Fraud is not limited to credit cards it is also done with cash!
Recognizing fake money can keep you out of trouble.  CHECKING CURRENCY Catch FraudsTM is the perfect system to reliably verify the authenticity of U.S., Canadian and Mexican Currency. Identification of bad bills and fake ID is easy with Catch FraudsTM. Using a high power ultraviolet source emphasizes the unique ultraviolet markers and hidden watermarks in currency. It is also effective for checking Government documents such as drivers licenses and passports that

Saturday, February 6, 2010

Credit Card Fraud book review

Credit Card Fraud: Theft, Fraud, Credit card, Identity theft, Basis point, England, Chargeback insurance, Credit card hijacking, Financial crimes, Friendly fraudCredit Card Fraud: Theft, Fraud, Credit card, Identity theft, Basis point, England, Chargeback insurance, Credit card hijacking, Financial crimes, Friendly fraud book review.

Sunday, January 31, 2010

internet credit card fraud protection

Credit cards are part of the daily lifes of many people. They have a huge turnover of money. This makes it interesting for fraudsters as well. Hence credit card fraud prevention becomes a necessity for users and providers as well. In this book

Saturday, January 30, 2010

help with credit card fraud.

This site is going to provide information on credit card fraud.