Voxis Allows Cybercriminals to Automate Fraudulent Credit Card Purchases

Voxis Allows Cybercriminals to Automate Fraudulent Credit Card Purchases

November 4, 2014         Written By Bill Hardekopf

Cybercriminals have a new way to get as much money from stolen credit cards as possible before being detected for fraud. A program called Voxis Platform is starting to surface on underground forums, allowing thieves to make large volumes of fraudulent purchases before being detected by the credit card company.

In a typical transaction, a seller must have a merchant account with a credit card company that authorizes the seller to accept credit card charges. Most cybercriminals are able to create fake merchant accounts or steal information for existing ones in order to use credit cards without getting caught. However, they are unable to do this in large volumes before the banks detect fraud.

Voxis offers an automated charging system designed to make appear as if merchants are sending their credit card information to the payment gateways. Voxis operates under 32 different payment gateways to make the charges appear to come from legitimate human interaction. Cybercriminals can set up charges at different time intervals in the day so the purchases appear real and random.

While there is no evidence of this program being used yet, the recent surge of credit card breaches makes an automated theft tool incredibly concerning. As always, monitor your credit card accounts and notify your banks of the first sign of fraud.



The information contained within this article was accurate as of November 4, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


bill-hardekopf

About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : Earn cash back TWICE. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus