Feeds

Nigerian freight forwarding scam hits UK

Small biz fights back against credit card fraud

  • alert
  • submit to reddit

Seven Steps to Software Security

Small businesses have launched a fight back against fraud through a Web site which provides early warning alerts about credit card scams.

Early Warning, whose service is free to join for online merchants, collates warnings and provides detailed information on risks to e-tailers. The service is important the prevalence of credit card frauds results in substantial charge back costs - and consequent losses - which hit small businesses particularly hard.

The service was established by Andrew Goodwill, managing director of ukcomputerparts.com, following his frustration in dealing with police and credit card firms after suffering at the hands of fraudsters.

"British police are some of the best in the world but they're no specialists to deal with credit card fraud, so complaints go nowhere," he told us, adding that it was a myth that fraud only hurt credit card firms.

Although the service only launched this week, 150 merchants have already signed up (around half of which are IT retailers). The most common fraudulently purchased items, perhaps surprisingly, are ink jet cartridges (easy for crooks to sell in the pub) with notebooks coming a somewhat distant second.

The service is already gaining plaudits.

A Reg reader writes to inform us that someone in Nigeria was buying goods using stolen credit cards and arranging for them to be sent to the address of a freight forwarding company, where they were subsequently forwarded to Africa. The goods are never seen again, and the e-tailer ends up losing both its goods and the money.

Our correspondent lost £520 in this particular scam which would have been avoided if he'd been on the Early Warning's mailing list. The list had previously warned of the fraud, the names used as part of the scam and details of the freight forwarding company involved.

The freight forwarding company itself is acting in good faith, our correspondent believes. It has stopped shipping goods to people linked with the fraud.

Police are investigating the fraud, total losses from which are feared to amount to as much as £500,000. Traders concerned that they have fallen victim to the fraud should contact Staines Police CID. ®

Mobile application security vulnerability report

More from The Register

next story
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
NEW, SINISTER web tracking tech fingerprints your computer by making it draw
Have you been on YouPorn lately, perhaps? White House website?
LibreSSL RNG bug fix: What's all the forking fuss about, ask devs
Blow to bit-spitter 'tis but a flesh wound, claim team
Black Hat anti-Tor talk smashed by lawyers' wrecking ball
Unmasking hidden users is too hot for Carnegie-Mellon
Attackers raid SWISS BANKS with DNS and malware bombs
'Retefe' trojan uses clever spin on old attacks to grant total control of bank accounts
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
Don't look, Snowden: Security biz chases Tails with zero-day flaws alert
Exodus vows not to sell secrets of whistleblower's favorite OS
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.