Feeds

Fraud expert becomes victim of credit card crime

It could be you

  • alert
  • submit to reddit

Using blade systems to cut costs and sharpen efficiencies

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

Boost IT visibility and business value

More from The Register

next story
Secure microkernel that uses maths to be 'bug free' goes open source
Hacker-repelling, drone-protecting code will soon be yours to tweak as you see fit
14 antivirus apps found to have security problems
Vendors just don't care, says researcher, after finding basic boo-boos in security software
How long is too long to wait for a security fix?
Synology finally patches OpenSSL bugs in Trevor's NAS
Israel's Iron Dome missile tech stolen by Chinese hackers
Corporate raiders Comment Crew fingered for attacks
Roll out the welcome mat to hackers and crackers
Security chap pens guide to bug bounty programs that won't fail like Yahoo!'s
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
Researcher sat on critical IE bugs for THREE YEARS
VUPEN waited for Pwn2Own cash while IE's sandbox leaked
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
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.
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.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.