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

Americans Remain Concerned About Credit Card Theft

According to the latest figures from Gallup, reports of credit card theft have decreased in the past year. Only 22% of respondents said they had experienced credit card theft in 2015, compared to 27% in 2014. With the record number … Continue reading

Visa Brings Token Technology to eCommerce

Last week, Visa announced that it was bringing token technology to Visa Checkout, the online service that allows customers to store shipping and payment information without having to re-enter their information. The token service replaces the sensitive information on payment cards, … Continue reading

13 Million Passwords Taken in Web Host Data Breach

The usernames, email addresses and passwords of 13.5 million accounts were stolen from 000webhost, a Lithuanian-based web hosting company. The company admitted to the breach on its Facebook page. In the statement, the company said, "We have witnessed a database … Continue reading

Visa and FireEye Partner to Help Merchants Prevent Fraud

Visa and FireEye have partnered to create a fraud prevention service, Visa Threat Intelligence (VTI), which aims to transform security breach information into actionable advice for issuers and merchants. FireEye and Visa will create articles based on their investigation and analysis … Continue reading

More U.S. Companies Victims of State-Sponsored Cyberattacks

A disturbing report released today shows that 35% of U.S. organizations have been the victim of nation-state cyberattacks. The survey by CounterTack|MCSI, a data endpoint detection and response company, is the security industry's first in-depth examination of state-sponsored attacks against corporations … Continue reading

Zwipe Moving Ahead with Fingerprint-Scanning Credit Card

Norwegian startup Zwipe is making significant advancements with its fingerprint ID technology, thanks to new financial backing from Photon Future. The Series B funding, topping off at $5 million, will allow the company to launch its contactless, biometric credit card … Continue reading

MasterCard Launches Safety Net Program for Cybersecurity

To help protect banks and payment processors against cyber hacking, MasterCard has developed a special program called Safety Net that identifies potential threats before they turn into full-blown attacks. The program is designed to screen billions of transactions a day … Continue reading

Target Enhances Security with Chip and PIN Store Cards

Target has become the first major card issuer to convert its store cards to require a PIN for identity verification. Rather than allowing cardholders to sign for their transactions, Target is bumping up its security measures by enforcing a PIN … Continue reading

An “Average” Cyber Crime Costs a U.S. Company $15.4 Million

The cost of cyber crime is skyrocketing. A new study shows a cyber crime incident in the United States costs a company an average of $15.4 million, an increase of 19%. Cyber crimes in the United States are much costlier … Continue reading

Dow Jones the Latest Victim of Data Breach

Last Friday, Dow Jones & Co. announced that hackers had accessed the payment card and contact information for approximately 3,500 current and former subscribers. Dow Jones, owner of The Wall Street Journal, MarketWatch and Barron's, said the hackers sought this … Continue reading

Companies Not Doing Enough to Protect Consumer Information

Companies are not adequately protecting consumer information, according to a recent survey of privacy and risk professionals. Conducted by ISACA, a global nonprofit information systems organization, the survey found that half of the 546 respondents said consumers should not feel confident … Continue reading

Beware of the New Credit Card E-Mail Scam

Criminals are finding a way to scam consumers with the recent conversion to the more secure chip-embedded credit cards. Since only about 40% of Americans have received their new EMV cards, many are wondering when their current card will be … Continue reading

Experian Data Breach Puts 15 Million T-Mobile Customers At Risk

On October 1, Experian, one of the country's leading credit rating bureaus, announced one of their servers had been breached. This server held the personal data of consumers who had applied for T-Mobile postpaid services between September 1, 2013 and September … 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 17, 2015

Bank of America Reveals Details of Biometric Smartphone App Bank of America has launched a mobile banking app which uses fingerprint and Touch ID sign-in. The bank says its new fingerprint and Touch ID sign-in capabilities provide eligible Android, iPhone … 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

Data Breach at Web.com Affects 93,000 Customers

Web.com--a company that provides website and Facebook design, marketing, e-commerce, Web hosting and domain registration for small businesses--discovered a data breach on Thursday, August 13. They believe the attack had actually occurred five days earlier. The data of 93,000 of … 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

A New Way to Protect Against Identity Theft

Another day and another data breach. Actually, two of them. Trump Hotel Properties and Harvard University both announced recently they had possible breaches of their databases, exposing customers and students to identity theft. Significant data breaches are happening almost every … Continue reading

CFPB Slams Two Credit Card Add-On Companies for Unfair Billing Practices

Today, the Consumer Financial Protection Bureau has fined two companies, Intersections, Inc. and Affinion Group Holdings, Inc, for selling credit card add-on products to consumers, but never providing the services to the buyers. Many credit card companies work through third-party … 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

Google’s Android Pay will not Collect Card Transaction Fees

When Google finally launches Android Pay, its mobile phone payment service, it will not get a cut of the interchange fees on transactions. This is drastically different than Apple Pay. When Apple Pay was introduced, banks and merchants were clamoring … 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

LowCards.com Weekly Credit Card Update–April 10, 2015

Walmart Exec: New Credit Card Design Won't Solve Fraud There's been some hope that improved credit card technology might finally lead to greater security and a reduction of credit card fraud. One idea has been credit cards with embedded chips, … 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

Constantly-Changing CVV Code Could Boost Card Security

In an effort to boost security and reduce the risk of credit card fraud, a tech company in France has come up with a CVV code for credit cards that changes every 40-60 minutes. According to CNN, Oberthur Technologies found … Continue reading

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

Facebook to Let Messenger Users Send Cash to Friends Facebook is giving the more than 500 million users of its Messenger app the ability to send money to each other, becoming the latest mobile platform to incorporate a payments service. … Continue reading

Good Samaritan Finds, Returns Tom Hanks’ Lost Credit Card

What would you do if you found the credit card of a Hollywood celebrity lying on the street? An unidentified man by the name of "Tony" found Tom Hank's credit card in New York, and promptly returned it to the … 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

LowCards.com Weekly Credit Card Update–February 27, 2015

Google Buys Softcard, Teams Up with Carriers on Mobile Payments Google and the mobile carriers have long been at odds over mobile payments, but faced with the runaway success of Apple Pay, the two rivals have become friends. AT&T, Verizon … 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