Feeds

Fraud expert becomes victim of credit card crime

It could be you

  • alert
  • submit to reddit

Remote control for virtualized desktops

The founder of an anti-fraud website has himself become the victim of credit card fraud. Andrew Goodwill, managing director of Early Warning UK, a scheme set up to help retailers avoid credit card fraud, is down $600 (£329) after crooks used his credit card to pay for services online.

Far from being embarrassed by becoming a victim of a credit card fraud, Goodwill reckons his case illustrates the ease of card misuse. “This can happen to anyone. I was shocked when I found that someone had spent $600 on one of my cards to pay for online poker in the States. This shows that no-one is immune whether they’re the head of a major bank or a fraud prevention company,” he said.

The card number that was copied was for an online account with Egg which Goodwill took out for the free balance transfer facility. “The statements are online and because I needed a password I just didn’t look. It wasn’t until I queried another matter on my normal current account that I saw that the monthly minimum payment to Egg had doubled.”

“It is so easy for criminals to generate credit card numbers by downloading special software that provides them with the means to produce 50,000 numbers in just 30 seconds. No-one can find the fraudsters, and they get the goods without having to pay for them.”

Egg, which has issued Goodwill with a new card, is investigating the suspected fraud. “People must look at their statements regularly whether they’re on paper or online, because the sooner you spot fraud the better, and the less likely that the consumer will have to pay,” Goodwill said.

CNP (Cardholder Not Present) fraud in the UK has grown nearly 50 times between 1994 and 2003 to £116.4 million. Goodwill wants the government to recognise the seriousness of this crime which is costing companies and the public £440 million a year. ®

Related stories

UK card fraud hits £505m
Site aims to quash auction fraud
UK firms warned of corporate hijack risk
Anti-fraud scheme saves retailers £2m

Internet Security Threat Report 2014

More from The Register

next story
Webcam hacker pervs in MASS HOME INVASION
You thought you were all alone? Nope – change your password, says ICO
You really need to do some tech support for Aunty Agnes
Free anti-virus software, expires, stops updating and p0wns the world
Meet OneRNG: a fully-open entropy generator for a paranoid age
Kiwis to seek random investors for crowd-funded randomiser
USB coding anarchy: Consider all sticks licked
Thumb drive design ruled by almighty buck
Attack reveals 81 percent of Tor users but admins call for calm
Cisco Netflow a handy tool for cheapskate attackers
Privacy bods offer GOV SPY VICTIMS a FREE SPYWARE SNIFFER
Looks for gov malware that evades most antivirus
Patch NOW! Microsoft slings emergency bug fix at Windows admins
Vulnerability promotes lusers to domain overlords ... oops
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.