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Security IT

Global Payments Breach Led To Prepaid Card Fraud 50

Posted by Unknown Lamer
from the don't-copy-that-magstripe dept.
tsu doh nimh writes "Global Payments, the Atlanta-based credit card processor that disclosed a major breach of its systems last month, has said that less than 1.5 million card numbers were stolen, and that customer names and addresses weren't included in the purloined data. But security reporter Brian Krebs carries a piece today highlighting how thieves were still able to use the data to clone debit cards, which were then used in shopping sprees in and around the Las Vegas area recently."
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Global Payments Breach Led To Prepaid Card Fraud

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  • no one (Score:4, Interesting)

    by nimbius (983462) on Monday May 14, 2012 @10:50PM (#40001953) Homepage
    has been caught and global payments hasnt been charged with any crime, nor have their executives or management.
    meanwhile Jeremy Hammond is being held without bail for leaking stratfor credit card numbers, and faces up to 30 years in prison if convicted.

    global payments leak:
  • by CodeBuster (516420) on Tuesday May 15, 2012 @12:05AM (#40002269)

    even though it was stupid from the standpoint of someone who values their freedom.

    The people making the purchases in Vegas and the people who "cloned" the cars were not likely the same people. Did TFA say *exactly* what was purchased using these cloned cards? For example, the people who actually used the cards, aka "the mules", were probably instructed to purchase portable high value items, including fine jewelry and watches, and then to mail those items on to fences in Russia, Eastern Europe, Asia or Africa. This also explains why Vegas was chosen because there are many high end shops selling very expensive jewelery, watches and other luxury goods in high volumes on credit so a large number of transactions is less likely to be noticed. Once the goods arrive overseas, they are resold and the profits, minus cuts for middle men, are transferred back to the technically sophisticated criminals who reside in countries where it's difficult or impossible for US law enforcement to reach them. Obviously this is less desirable then simply transferring funds electronically and directly, but the limited amount of data stolen in this case, as others have already pointed out, limited the options of these thieves.

"Text processing has made it possible to right-justify any idea, even one which cannot be justified on any other grounds." -- J. Finnegan, USC.