LowCards.com Weekly Credit Card Update–October 10, 2014

Banks in U.S. Moving to Chip-Based Debit and Credit Cards In the coming year, banks in the United States are likely to replace debit or credit cards with versions that have tiny computer chips embedded in them, a move aimed … Continue reading

Young Adults at Highest Risk of Credit Card Fraud

New research from the Better Business Bureau indicates that young adults, age 18 to 24, are more at risk of credit card fraud than other generations of adults. This may be due to how willing young adults are to share … Continue reading

Gold Dealer Now Takes Bitcoin Instead of Credit Cards

In an effort to prevent credit card fraud on the sale of gold, the owner of Agora Commodities has decided to do away with credit card payments in favor of Bitcoin. The dealer will no longer be processing payments with … Continue reading

Innovative ATM Reader Fights Credit Card Skimming

America has been fighting to stay ahead of credit card skimming and identity theft. But Diebold, Inc. has developed a new ATM card reader called ActivEdge that may be a revolutionary anti-skimming device. The secret to ActivEdge's security is the … Continue reading

LowCards.com Weekly Credit Card Update–August 22, 2014

Visa Wants to Make it Even Harder for Thieves to Buy Gas with Your Credit Card Gas stations are among the easiest places for crooks to use stolen credit cards. Pumps are usually unattended, so all the thieves have to … Continue reading

UPS Reveals Data Breach in 51 Stores

United Parcel Service reported yesterday that a data breach may have occurred in 51 of their UPS Stores, possibly leading to the theft of customer debit and credit card information. Malicious software that was not identified by current anti-virus software … Continue reading

New Visa Service Helps Gas Stations Combat Credit Card Fraud

Visa is helping gas stations fight credit card fraud through a new program known as the Visa Transaction Advisor. This system uses intelligent analytics to identify purchases that have a high risk of being fraudulent. Self-serve gas stations are known … Continue reading

“Backoff” Malware Program Causes Big Headache for Homeland Security

A program intended to help consumers fight credit card fraud is causing a significant problem for the Department of Homeland Security. Backoff is a malware program deployed to a store's point-of-sale system through remote access applications. Remote access applications are programs that … Continue reading

Rogue Flash Player Steals Credit Card Information from Android Devices

A new Trojan has started threatening Android users by disguising itself as Adobe Flash Player. Encountering this program could easily put your credit card data at risk. At this time, the malware is mostly targeting Russian users, but its codes … Continue reading

Credit Card Fraud on the Rise before EMV Switchover

With America on the verge of converting to EMV credit cards in the next few years, fraudsters are trying to get in on last-minute scams. This is particularly true for credit card thieves in Europe, who consider the unsecure American … Continue reading

Understanding Your Credit Card Number

Do you know what the numbers mean on the front of your credit card? Are they just a random accumulation of numbers? Or do they serve a specific purpose? Much like the VIN on your car, credit card numbers are … Continue reading

LowCards.com Weekly Credit Card Update–June 20, 2014

Suze Orman's Approved Prepaid Debit Cards are Quietly Discontinued Suze Orman is quietly getting out of the payments business. Starting July 1, Ms. Orman's Approved card, a prepaid debit card aimed at budget-challenged consumers, will no longer work, according to … Continue reading

Credit Card Fraud May Also Be in Play at World Cup

Events like the World Cup are breeding grounds for credit card breaches, so soccer fans are being warned about using their cards during the popular event. The World Cup is taking place over the next month throughout 12 locations in Brazil, … Continue reading

LowCards.com Weekly Credit Card Update–June 13, 2014

Credit Card Use Surges in AprilAmerican consumers threw caution to the wind in April and ran up their credit-card balances at the fastest pace in almost 13 years. The amount of outstanding revolving credit--a figure that’s mostly credit card debt--rose … Continue reading

AT&T Develops New Program to Help Prevent Credit Card Fraud

AT&T will pilot a new service that could help credit card companies prevent fraud. The program will let the credit card company know the current location of the accountholder based on the location of his or her phone. If that … Continue reading

Who Pays For Fraudulent Credit Card Transactions?

Credit card fraud is an issue that affects a number of different parties. Credit cardholders, banks, merchants and the scammer are all involved in a process that can take weeks or even months to fully resolve. The best way to … Continue reading

Teen Steals Credit Card to Rent $12 Million Vacation Home

A 19-year-old in California was charged with credit card fraud last week after he used a stolen card to rent a $12 million vacation home for $27,000. The teen also spent $13,000 renting a 2012 McLaren sports car worth $240,000. … Continue reading

Man Admits Role in $200 Million International Credit Card Fraud

A man from New York has officially confessed to his role in a $200 million credit card scandal that spread over several continents. Khawaja Ikram pled guilty in court to conspiracy to commit bank fraud. Ikram was originally charged in … Continue reading

LowCards.com Weekly Credit Card Update–May 23, 2014

Microchips in our Passports and Credit Cards: Are They Safe? U.S. passports have them. And these days, many more U.S. credit cards are starting to carry them, too. The tiny plastic chips embedded in passports and credit cards are primarily … Continue reading

BillGuard App Alerts Credit Card Users of Data Breaches

Want to know about a potential credit card breach before the news hits the mainstream media? A new app for Android users may allow you to do just that. It's called BillGuard, and it is designed to alert you of … Continue reading

LowCards.com Weekly Credit Card Update–March 28, 2014

Why So Many Retail Stores Get Hacked for Credit Card Data When a big retailer gets hacked, it's often quick to note that it has complied with cybersecurity rules set by the credit card industry. MasterCard, Visa and other card … Continue reading

LowCards.com Weekly Credit Card Update–March 21, 2014

Consumers Not Powerless in Face of Credit Card Fraud Most card companies already have custom alerts and other features that not enough consumers use. Then there's something that all cards should have but most don't--an on/off switch accessible from a … Continue reading

LowCards.com Weekly Credit Card Update–March 14, 2014

How Target Blew It Poring over computer logs, Target found FireEye's alerts from November 30 and more from December 2, when hackers installed yet another version of the malware. Not only should those alarms have been impossible to miss, they … Continue reading

Credit Card Fraud Investigation Turns into Pot Bust

The investigation of a counterfeit credit card operation in New Jersey quickly turned into a major pot bust. Police officers in Egg Harbor Township began tracking the case in January when a couple was suspected of placing a number of … Continue reading

LowCards.com Weekly Credit Card Update–March 7, 2014

Another Day, Another Retailer in a Massive Credit Card Breach The corporate hacks keep coming. The latest target, according to cybersecurity blogger Brian Krebs, is the beauty supply chain Sally Beauty, a retailer that draws customers from salons and other … Continue reading

Marijuana Scent Leads Police to Credit Card Thieves

Police officers in Murfreesboro, Tennessee were undergoing a fairly common investigation as they followed the scent of marijuana coming from a Select Inn motel room. But what they found in the motel room was a little bit more than they … Continue reading

PayPal President Victim of Credit Card Skimming

PayPal President David Marcus recently tweeted that his credit card information was stolen during a trip to the U.K. The card was supposedly "skimmed" at the hotel where he was staying, and then used to make an array of purchases … Continue reading

Windows Forces ATMs to Upgrade to New Operating System

Most ATMs in America run off Windows XP, which is a 12-year-old operating system rarely seen on computers these days. Windows is now forcing ATM owners to upgrade to Windows 7 because the company will no longer support the XP … Continue reading

LowCards.com Weekly Credit Card Update–February 7, 2014

Hotel Company Investigates Data Breach, Card Fraud White Lodging Services, a hospitality company that manages 168 hotels in 21 states--under franchises from Hilton, Marriott, Sheraton, and Westin—is investigating reports that it suffered a data breach that lasted from March 2013 … Continue reading

Hotel Company Suffers Data Breach on Credit and Debit Cards

The wave of data breaches causing widespread concern among consumers has now spread to the hotel industry. A hotel franchise management company that manages 168 hotels in 21 states has apparently suffered a data breach that exposed hundreds of guests’ … Continue reading

LowCards.com Weekly Credit Card Update–January 31, 2014

Were You Charged $9.84? It Might Be Fraud Be on the lookout for a recent $9.84 charge on your debit or credit card. It might be part of a massive, worldwide scam. Thieves are using stolen payment cards to make … Continue reading

Another Credit Card Scam Rocks Consumers

Yet another credit card scam is taking place, this one where consumers have an unauthorized $9.84 charge appear on their account. The business name on the fraudulent transaction is as an odd-looking website, such as CEWcs.com or EEETsac.com. The website … Continue reading

Australia to Phase out Credit Card Signature Verification

Australia is making an effort to cut down on credit card fraud by phasing out signature verifications. Instead of signing for purchases on credit cards, all buyers will have to enter a personal identification number (PIN) to verify their identities. … Continue reading

Card Study Shows Bank of America Tops in Security

Bank of America earned the title of Best in Class for Security in Javelin Strategy and Research's 9th Annual Credit Card Issuers' Identity Score Card. This is the seventh year in a row that the banking giant has earned this … Continue reading

LowCards.com Weekly Credit Card Update–January 24, 2014

Hackers Took Sneaky Path Into Target Customers' Wallets It was, in essence, a cybercriminal's dream. For months, an amorphous group of Eastern European hackers had been poking around the networks of major U.S. retailers, searching for loose portals that would … Continue reading

When Your Credit Card is Stolen

What happens to your credit card once it is stolen? If it is someone physically stealing your wallet or purse, the thief may take your card down the street and immediately go on a shopping spree before you even know … Continue reading

Top 10 Signs of Identity Theft

Recent security breaches at Target, Skype and Snapchat show that identity theft has become a major problem in our society. Unfortunately, personal information, email, credit cards and bank accounts are not as private and protected as we think. It is … Continue reading

How Banks Are Responding to Massive Target Breach

The security breach that took place in Target stores during the peak holiday shopping season hurt more than the giant retailer. It created substantial headaches for the banks and issuers behind the 40 million accounts with additional costs of fraud … Continue reading

Wife of Seattle Mariners’ Outfielder Allegedly Charged $180,000 on Teammate’s Debit Card

Credit and debit card fraud can hit even the rich and famous. The wife of a part-time Seattle Mariners outfielder allegedly used the debit card of his star teammate's wife to charge almost $180,000 from the online store of Saks Fifth Avenue. … Continue reading

Aluminum Foil Used in Credit Card Fraud

Of all the ways we use aluminum foil, you'd never expect someone to turn it into a tool for credit card fraud. Nevertheless, some criminals in Kansas City have discovered that covering satellites with aluminum foil can help them spend … Continue reading

Workers Spend $29 Billion on Government Credit Cards a Year

Reports from the IRS reveal that government employees spend over $29 billion on federal credit cards every year. This is actually a decline from the nearly $31 billion in 2011, but they still reveal a shocking amount of money flowing … Continue reading

Stolen European Cards More Valuable on Black Market than U.S. Cards

Two weeks ago, a federal indictment charged five gang members with stealing more than 160 million credit card numbers from around the world during the past seven years, resulting in hundreds of millions of dollars in losses. The four Russian … Continue reading

LowCards.com Weekly Credit Card Update–July 31, 2013

Why Stolen European Credit Cards Cost Five Times as Much as U.S. Ones European hackers accused of selling stolen data only collected about $10 for each stolen American credit card number, according to an indictment from federal prosecutors. But European cards … Continue reading

LowCards.com Weekly Credit Card Update–July 26, 2013

New Ruling on Credit Card Regulations Could Mean Big Changes at the Cash Register in Canada A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada. Striking down the … Continue reading

Leader of $200 Million Credit Card Fraud Ring Pleads Guilty

The leader of a $200 million credit card fraud ring that was busted earlier this year has now plead guilty to his actions. This case is one of the largest instances of fraud ever prosecuted by the Department of Justice, … Continue reading

Rakuten.com Users Report Credit Card Fraud

Rakuten.com, formerly Buy.com, is a well-known Asian retail site with thousands of daily users. A site with this kind of retail traffic is a prime target for hackers. According to news reports, there have been eight confirmed cases of credit … Continue reading