LowCards.com Weekly Credit Card Update–February 5, 2016

Don't Feel Bad, Millions Hide Bank Accounts From Their Spouses Too One in twenty people in the U.S. admit to having started secret bank accounts or credit cards without their partner's knowledge. Multiply that by the number of American adults, … Continue reading

Consumers Concerned about Identity Theft during Tax Season

For some consumers, tax season is a joyous occasion where they find out just how much money they're getting back as a tax refund. But this joy is now tempered, according to a new survey from Experian. Approximately 42% of … Continue reading

Study Shows Top Credit Cards for Consumer Identity Safety

Javelin studied the nation's top 20 credit card issuers to determine the leaders in consumer identity safety. Those topping the 2016 list are: American Express, Bank of America, Capital One, Chase, Citibank, PNC, SunTrust, USAA and Wells Fargo. To assess … Continue reading

Consumers Aware of Data Security Risks but Do Little for Protection

Consumers are well aware of data security risks in the modern world, but they show no signs of changing the way they use technology. A staggering 83% of consumers reported that technology has enhanced their daily lives, and 30% of … Continue reading

North Carolina Parents Can Now Freeze Their Child’s Credit

Beginning January 1, parents in North Carolina will have a new way to protect their children's identity before they turn 18. A new state law from the Department of Justice will allow parents to put a security freeze on their … Continue reading

Phishing Scams Increased in 2015

According to the APWG's Phishing Activity Trends Report, the number of phishing attacks increased over the first three quarters of 2015. Internet Service Providers (ISPs) are the most-targeted industry, while the payment and financial services sectors followed closely behind. ISPs are attractive … Continue reading

LowCards.com Weekly Credit Card Update–December 18, 2015

How the Fed's Interest Rate Hike Could Hit Your Wallet The Federal Reserve increased interest rates Wednesday afternoon for the first time in nearly a decade. As expected, the Fed announced that it would increase its benchmark rate by one … Continue reading

Credit Card Data from 16 Travel and Leisure Companies at Risk

On December 9, Wandera reported a security flaw that affected 16 companies from around the world, including airlines such as Air Canada, easyJet, AirAsia and Aer Lingus. The security vulnerability, which Wandera is calling "CardCrypt," had the potential to reveal … Continue reading

Data Security Act of 2015 Advances in House Committee

On Tuesday, the House Financial Services Committee voted in favor of the Data Security Act of 2015 (HR 2205) by an overwhelming 46-9 vote. The Act is designed to heighten information security programs throughout the country and ensure transparent reporting … Continue reading

Cyber Crime Underground Runs Like Regular Business

The North American cybercriminal underground is not hidden or exclusive, as it is in other countries, according to Trend Micro Incorporated's report, “North American Underground: The Glass Tank.” While cybercriminals in other parts of the world operate in secrecy, North American cybercrime … Continue reading

LowCards.com Weekly Credit Card Update–December 4, 2015

As Subprime Credit Cards Grow, So Do Fees There's a growing subprime threat--and it fits in your billfold. The number of subprime credit cards in circulation--those with the highest interest rates--has exploded over the last five years to where in … Continue reading

VTech Data Breach Affects Nearly 5 Million Customers

Last Friday, VTech announced that an unauthorized party accessed the customer data held on its Learning Lodge app store database on November 14, 2015. According to Have I Been Pwned, a company that tracks online data breaches, this is the fourth largest consumer … Continue reading

80% of U.S. Consumers Concerned About Online Crime

Four out of every five consumers in the United States are worried they will be the victim of an online crime, according to a Symantec report released today. The Norton Cybersecurity Insights Report found 62% of consumers believe it is likely … Continue reading

Online Retail Fraud Attempts Jumped 30% in Past Year

As consumers and retailers prepare for the holidays, both groups need to be vigilant against fraud. A new study found that online retail fraud attempts have increased by 30% in the past year. In transactions where cards are not present (CNP), 1 out … Continue reading

Four Men Indicted for Massive, Multi-Million Dollar Hack

Four men have been indicted on charges that they hacked into financial institutions across the globe and used stolen information to manipulate stocks, commit credit card fraud and operate illegal online casinos. The hackers and their conspirators generated over $100 million … Continue reading

‘Decision Manager Replay’ Offers Real-Time Fraud Analytics

CyberSource has launched Decision Manager Replay, a fraud analytics tool which gives merchants the ability to analyze and adjust online fraud management strategies. Decision Manager Replay allows merchants to perform a "what if" fraud strategy analysis. With the program, a merchant … Continue reading

LowCards.com Weekly Credit Card Update–October 9, 2015

Expect More Online Fraud as New Credit Cards Arrive The new chip credit cards that shoppers are getting in their mailboxes may prevent criminals from stealing from stores, but many thieves are expected to move their operations online. Small businesses … Continue reading

Data Breach at Scottrade Affects up to 4.6 Million Customers

Scottrade, an online discount brokerage firm, confirmed it was the victim of a data breach that took place during late 2013 and early 2014. The breached database contained customer Social Security numbers, email address and other sensitive information, but the … Continue reading

Data Breaches at Hilton and Trump Hotels

In August, Visa alerted many financial institutions of a security breach that took place between April 21 and July 27 of this year. The notifications included the credit card numbers that Visa believed might have been compromised during this time period. … Continue reading

LowCards.com Weekly Credit Card Update–September 4, 2015

Credit Card Fraudsters Pump Gas Stations for Profit As motorists head out on the last big driving weekend of the summer, the credit card industry and gas-station owners are deploying everything from sophisticated software to heavy-duty padlocks to combat an … Continue reading

Visa Sets Deadline for Debit Card Issuers after Target Settlement

Less than a week after its settlement with Target, Visa has set a deadline for their debit card issuers to receive extra compensation from the Target data breach of 2013. Card issuers who wish to seek payments beyond what they will … Continue reading

New Device Authenticates Mobile Payment Using Your Heartbeat

Wearable biometrics provider Nymi has teamed up with TD Bank and MasterCard to create the world's first wearable mobile payment solution. Backed by biometric technology, this wearable uses a person's heartbeat to verify identity and authorize contactless credit card payments. … Continue reading

Why Do Credit Cards Get Declined?

Don't you hate it when you go to make a purchase, but your credit card is declined? It's hard to tell what's worse, the embarrassment of being presumed to be broke, or the lack of accurate information offered by the merchant. … Continue reading

Americans Would Rather Have Nude Photos Stolen Than Financial Data

According to a new survey from MasterCard, 77% of Americans worry about the security of their personal information. 62% worry about their emails getting hacked, and 46% worry about being pickpocketed. But what is more surprising is the value that … Continue reading

Most Americans Want More Information about Data Breaches

A staggering number of American consumers want to know more about data breaches than what companies have provided them, according to new research from the Zix Corporation. 84% of Americans said the best way for retailers to maintain consumer trust … Continue reading

Senator Proposes Early Warning Alerts to Curtail Identity Theft

Senator Charles Schumer has proposed an idea that would help identity theft victims, and possibly limit the damage caused by these breaches. Schumer, a Democrat from New York, wants the three largest credit reporting firms--Equifax, TransUnion and Experian--to immediately send … Continue reading

International Travelers at Higher Risk of Identity Theft

International travelers experience a higher level of risk for identity theft than Americans who choose to vacation within the United States. In fact, leaving the United States could make it 1.5 times more likely to have your identity stolen than … Continue reading

Punkey, a New Malware Targeting POS Systems

pLate last week, the FBI sent out an internal cyber alert warning retailers of a new malicious software on the market that could compromise their credit card data. The malware, named "Punkey" based on the sitcom character Punky Brewster, attacks … Continue reading

Sally Beauty Suffers Second Data Breach

For the second time in just over a year, Sally Beauty Holdings Inc. has been hit with a data breach The company confirmed today in a statement that there was an "illegal intrusion" into its payment card systems. In March of … Continue reading

Some State Legislatures Tackling Child Identity Theft

Child identity theft is a growing problem that is starting to get addressed by the big three credit bureaus and some state legislatures. According to a recent study, over 10% of children had someone else using their Social Security number. … Continue reading

Data Breaches Will Cost Over $2 Trillion by 2019

A new report predicts that data breaches will cost the global economy $2.1 trillion by 2019, almost four times more than this year. The research from market analytics firm Juniper Research indicates that sophisticated hacking tools will play a major … Continue reading

SmartMetric’s Biometric Credit Card Closer to Introduction

SmartMetric, a fingerprint activated payment card, is not yet on the market, but a new video on the company's website shows how the security features work on the card. The biometrics technology embedded into the EMV credit card is designed … Continue reading

Medicare Cards Finally Remove Social Security Numbers

Life just got harder for identity thieves, thanks to some rare cooperation in Congress. Medicare has always used a person's Social Security number as their ID number in the Medicare system. They even print the Social Security number directly on … Continue reading

Protecting Your Child Against Identity Theft

Stealing a child's Social Security number is one of the biggest prizes for an identity thief. Children have no credit files and, since parents rarely suspect anything, these stolen numbers can normally be used for years. A sad example of this … Continue reading

SmartMetric Wins $3 Million Fee Dispute with MasterCard and Visa

SmartMetric successfully won a legal fee dispute with Visa and MasterCard, which would have cost the company $3 million in fees and court costs. The case dealt with the biometric technology the two credit card giants claimed acted as patent … Continue reading

Identity Theft Biggest Complaint for Consumers

Identity theft was the biggest source of consumer complaints for 2014, according to a new report from the Federal Trade Commission. ID Theft accounted for 13% of the total complaints received by the FTC last year. Debt collection and imposter … Continue reading

Avoid Becoming a Victim of Today’s Biggest Scams

Protecting your financial data and personal information is critical, especially when massive data breaches and identity theft cases seem to occur every week. Becoming aware of the scams being used by thieves can help people avoid falling victim to these … Continue reading

Two Million Americans Were Victims of Medical Identity Theft in 2014

More than two million Americans were victims of medical identity theft in 2014, according to new information from the Medical Identity Fraud Alliance. The Fifth Annual Study on Medical Identity Theft found the number of consumers affected by medical identity theft … Continue reading

LowCards.com Weekly Credit Card Update–February 20, 2015

In Challenge to Apple Pay, Samsung Buys Mobile Payment Company Samsung is buying mobile-payment startup LoopPay as the Korean phone maker steps up to challenge Apple and its payment system on iPhones. The deal strengthens speculation that Samsung Electronics plans … Continue reading

MasterCard Commits $20 Million to Enhance Cybersecurity

Credit card companies, retailers and payment networks are all feeling the heat after a year of massive data breaches and countless cases of identity theft. MasterCard is now taking some major steps to protect their customers with a $20 million … Continue reading

Password-Free Mobile Banking Now Possible with EyePrint ID

Consumers are very concerned about security when it comes to mobile banking, and a new technology allowing users to log into their accounts with just their eyes could lessen those concerns. Mobile banking firm Digital Insight has partnered with EyeVerify … Continue reading

Consumers Warned of IRS Phone Scam

We are two months away from the April 15 tax deadline, and scammers are working overtime to steal your money by scaring you with a new phone scheme. The Internal Revenue Service says scammers are impersonating IRS representatives by gathering … Continue reading

TurboTax Resumes State E-Filings After Data Breach Investigation

Many taxpayers were faced with a rude awakening last Thursday when they went to file state taxes through the popular online platform, TurboTax. Intuit, the parent company of TurboTax, temporarily shut down filings in 18 states to investigate a possible data … Continue reading

Fraud-Fighting Credit Card “Final” Receives $1 Million in Funding

As the fight against credit card fraud continues in America, credit card startup Final has received a huge boost from investors---$1 million. Final is a credit card that enables users to generate multiple card numbers. Rather than a single, static … Continue reading

Password Managers Could Limit Identity Theft

Password managers could be an answer to the growing fear of identity theft. In general, consumers do a very poor job of creating secure passwords. Most people use a password that is a memorable word and possibly a number or … Continue reading

True Link Raises $3.4 Million to Develop Debit Card to Help Fraud Protection for the Elderly

True Link Financial has been working on a debit card solution for seniors that will help protect them against identity theft. The startup recently scored an extra $3.4 million in funding which could significantly improve the card's features. The card helps provide … Continue reading

Guard Against Identity Theft with Masked Credit Card Numbers from Blur

Worried about credit card thieves stealing your personal information? You may benefit from a credit card masking service called Blur that creates one-time card numbers for each of your transactions. The program was created by Abine, a privacy firm in … Continue reading

President Wants Laws on Student Privacy, Hacking Notification

The rash of data breaches has tested the patience of the President of the United States. Yesterday, President Barack Obama took steps to counter identity theft by calling for laws to protect the personal data of students and require notification … Continue reading