Category Archives: gift card fraud

Gift Card Gang Extracts Cash From 100k Inboxes Daily

Posted on by

Some of the most successful and lucrative online scams employ a “low-and-slow” approach — avoiding detection or interference from researchers and law enforcement agencies by stealing small bits of cash from many people over an extended period. Here’s the story of a cybercrime group that compromises up to 100,000 email inboxes per day, and apparently does little else with this access except siphon gift card and customer loyalty program data that can be resold online. Continue reading Gift Card Gang Extracts Cash From 100k Inboxes Daily→

Report: Retail Sector Under Cybersecurity Siege

Posted on by

A report issued this week in advance of the holiday season by IntSights, a provider of a cybersecurity service that surfaces threats on the Dark Web, estimates that organized retail crime (ORC) is now costing retailers approximately $30 billion each y… Continue reading Report: Retail Sector Under Cybersecurity Siege→

Detecting Cloned Cards at the ATM, Register

Posted on by

Much of the fraud involving counterfeit credit, ATM debit and retail gift cards relies on the ability of thieves to use cheap, widely available hardware to encode stolen data onto any card’s magnetic stripe. But new research suggests retailers and ATM operators could reliably detect counterfeit cards using a simple technology that flags cards which appear to have been altered by such tools. Continue reading Detecting Cloned Cards at the ATM, Register→

Buyers Beware of Tampered Gift Cards

Posted on by

Prepaid gift cards make popular presents and no-brainer stocking stuffers, but before you purchase one be on the lookout for signs that someone may have tampered with it. A perennial scam that picks up around the holidays involves thieves who pull back and then replace the decals that obscure the card’s redemption code, allowing them to redeem or transfer the card’s balance online after the card is purchased by an unwitting customer. Continue reading Buyers Beware of Tampered Gift Cards→