I pointed to this story on Christmas Eve, using my Twitter account, but I imagine that many of my readers don't follow my Twitter posts (link here). Just FYI, I use my Twitter account to point to miscellaneous credit stories that, for whatever reason, don't make it onto CreditMattersBlog.com.
Anyhow, getting to the story at hand, Wired wrote a nice story about a hacker's attempt to rule the market in stolen cards. The story, and the video (provided below), reminded me of how vulnerable the card issuers are to fraud. After watching the video, meanwhile, I also realized how silly it can be for retailers to ask for identification at the point of sale.
Watch the video first and then read the Wired story afterward (link to story below).
Read the Wired story here (link).
Monday, December 29, 2008
One Hacker's Audacious Plan to Rule the Black Market in Stolen Credit Cards
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13 comments:
Huh. Maybe that should be my new job. Seems lucrative.
Except at the end you go to jail.
Not for you, Lion. :)
Wow. Thanks for the post. It seems the crooks only have to spend about $20-25,000 to make millions illegally. Most interesting.
Douglas, it's rather amazing how cheap the investment is.
You only go to jail if you get *caught* CM!
But you are right...I would not last in jail. I can't take the thought of shaking someone for a pack of gum.
Or being someone's little girlfriend, Lion. ha!
LOL! I'm cute too...maybe I will just find a *legal* job....jail really isn't for folks like me LOL
Lion, exactly. Need to keep you out of the clink.
I know, CM but it is so HARD not to rip people off when it is just this easy. I mean really, jobs are tough to come by these days. LOL
Well, these guys had it good for quite a while. But greed got them. It always does.
Lion, you're too honest to be a hacker.
See that is where I would go wrong. I would feel bad for ripping people off. Banks? Not so much. People? Certainly.
Meh. Guess hacking isn't for me. ::off to look for legit employment::
Lion, you're just a great kid. You know it.
That's some jazzy lounge music.
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