Monday, November 21, 2011

155 million euro loss through credit card fraud

The replacement of credit cards is largely complete. The monitoring of
the cards has been tightened considerably.
The largest mass exchange of credit cards in Germany, according to
the banks already largely completed.
Frankfurt / Main. The largest mass exchange of credit cards in
Germany, according to the banks already largely completed. The Central
Credit Committee (CCC) said on Thursday also, all German banks have
also tightened up the monitoring of the affected cards significantly,
which further restricts potential for abuse. Meanwhile, experts
warned, the total damage from credit card fraud in Germany is expected
to double this year to 155 million €.
Unlike debit cards, which are illegal to the fraudster data by
mounting an attachment to the card insertion slot of the ATM
(skimming), the credit card fraudsters usually fetch the required data
directly from the Internet. You can protect against these hackers
barely. A principle of the experts is this: As little as possible to
pay by credit card.
Other countries are following a report by the Bavarian television hit:
A Visa spokeswoman Germany have the news program "Rundschau" said that
would now also in other countries seem to be exchanged cards. Numbers
and countries they have not called.

Postbank announced on Thursday in Germany to replace other cards as a
precaution. Currently, we receive numerous customer calls, company
spokesman Ralf Palm said on AP request. How many cards are to be
replaced, he would not say. Even Postbank customers have discovered
"some very few cases of" irregularities in their accounts. "But if
they have to do with the mislaid data in Spain, has yet to be tested
yet," said the spokesman.
The credit committee stressed until the arrival of the new card,
customers could use their old continues. Manipulation damage could
have occurred, would be liable if customers do not.
Affected by the large-scale replacement program of German banks are
consumers who have used their cards in Spain recently. This is likely
to be several hundred thousand Germans: alone, with the savings banks
reportedly 190 000 cards replaced, at the people and Raiffeisen banks
The total damage from credit card fraud in Germany in 2009 is
expected to double in 2009 to 155 million €. "The data thieves are
becoming more professional," quoted "picture" the CEO of Card Systems
specializes in management consulting PaySys, Hugo Godschalk. "In
addition, many German shop at Internet retailers who have no special
security systems, making them easier for victims of identity theft
International standards of privacy protection as a consequence
Given the scale of credit-swap action are loud demands for
consequences and international level. The FDP deputy parliamentary
leader Gisela Piltz said "Handelsblatt Online," which took place in
Spain theft of thousands of credit card numbers show clearly that the
security of personal data was compromised anywhere, anytime.
"We need multilateral agreements are to finally establish an
international data protection standards," she said. National
initiatives ranged in age from e-commerce and online banking is no
longer made. Moreover, it is necessary to provide supervisory
authorities in addition to a better, also with a pre-emptive powers to
tackle privacy vulnerabilities in the run effectively.
The domestic policy spokesman of the Union faction in the Bundestag,
Hans-Peter Uhl (CSU), holds legislative consequences are possible: If
this amount of data lost would come, was always a "cause for concern,"
he said, "Handelsblatt Online." At the end of the test will occur,
whether there is legislative action.
Green Group Managing Director Volker Beck said, was necessary "a
privacy audit with high standards and independence of the certifying

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