Articles about Credit

Union confirms two-day strike over Universal Credit's pisspoor IT

Universal Credit staff will strike for two days next week over "increasingly oppressive" working conditions and unusable IT, the Public and Commercial Services trade union has confirmed, following a vote late week. The union's members voted to down tools at the Glasgow and Bolton centres last week, where more than half (1,500 …
Kat Hall, 13 Jul 2015

Uncle Sam spanks PayPal for credit scheme cockup

Updated PayPal is going to surrender $25m to settle charges it enrolled consumers into its credit platform without their knowledge or consent. The US government's Consumer Financial Protection Bureau (CFPB) alleges the online payment house used its "Bill Me Later" feature to lure consumers into its credit operation illegally. The …
Shaun Nichols, 19 May 2015

CVS shutters photo website in credit-card hack attack scare

Updated US drugstore* chain CVS has shut down its online photo printing service after it was compromised by hackers, who may have swiped people's bank card details. "We have been made aware that customer credit card information collected by the independent vendor who manages and hosts CVSPhoto.com may have been compromised," CVS …
Iain Thomson, 18 Jul 2015

Universal Credit could take 10 YEARS to finish, says Labour MP

The government's disastrous £700m Universal Credit programme could take up to 10 years to complete, Labour MP Stephen Timms informed El Reg on Thursday. "I've been reliably told by someone formerly working on the programme that it will take ten years to complete. Based on the evidence, I have no reason not to believe that time- …
Kat Hall, 13 Mar 2015
Iain Duncan Smith. Pic: Foreign & Commonwealth Office

Unions call for strike action over 'unusable' Universal Credit IT

Trade union members have voted to strike over the deeply troubled Universal Credit IT project, citing an "increasingly oppressive working environment" and "unusable systems". Despite the project having been “re-set” and a new digital system introduced, a spokesman from the PCS trade union said that the systems are still not up …
Kat Hall, 07 Jul 2015

It’s 2015 and we're being told not to send credit cards as cleartext

The payments card industry (PCI) council has reviewed its guidance to encourage businesses to stop slinging credit card data in cleartext by giving the tick to encryption solutions built from different components, rather than products that handle every step of data's journey from merchant to banker. The change is reflected in …
Darren Pauli, 03 Jul 2015
Iain Duncan Smith. Pic: Foreign & Commonwealth Office

Universal Credit white elephant needs 'urgent breakthrough' says MP

Acting shadow work and pensions secretary Stephen Timms MP (Labour) has warned that a "significant breakthrough" is now urgently required for the severely delayed and over-budget Universal Credit system, otherwise it may be time to scrap the project. To many the programme is increasingly resembling a white elephant, with the …
Kat Hall, 30 Jun 2015
SoftLayer's data center

SCC bags universal credit hosting contract

Reseller and IT services outfit SCC has won a two-year hosting deal for the Department for Work and Pensions' (DWP) troubled universal credit programme for a sum worth "over six figures". The deal was awarded through the G-Cloud and is part of the DWP's next "digital service" phase of the programme, which is currently being …
Kat Hall, 27 Feb 2015
Privacy image

Irish credit unions in privacy breach

Irish credit unions are in the midst of a privacy storm, with that country's privacy watchdog accusing some institutions of trafficking in illegally-obtained data. The Office of the Data Protection Commissioner (ODPC) says it's investigating whether some credit unions hired private investigators to obtain confidential data from …
Angry old man

Who uses the Universal Credit system? ALMOST NOBODY, says report

Very little progress has been made on the Department for Work and Pensions' disastrous Universal Credit programme, with just 0.3 per cent of the eligible population using it, the Public Accounts Committee has said. “As the department has justified this spending on the promise of benefits in the future – such as from higher …
Kat Hall, 25 Feb 2015
Scrooge McDuck

Frontier wipes credit of Elite: Dangerous 'billionaire' badboys

Players of the game Elite: Dangerous who were made overnight "billionaires" due to a credit refund glitch will get their "winnings" wiped, the game's maker, Frontier Developments, has said. Initially the company offered the affected "commanders" a choice over whether they kept their loot or had their credit reset in order to …
Kat Hall, 08 Jan 2015
PlayStation Vita

PlayStation Vita owners – Sony owes you $25 cash or $50 credit

Sony and the FTC have agreed on a settlement deal that will include payouts to PlayStation Vita owners. The US watchdog gave final approval to a settlement deal with the US arm of the Japanese electronics giant and its advertising agency Deutsch LA. The deal, first proposed in November will allow users who purchased a …
Shaun Nichols, 01 Apr 2015
australian credit cards fraud contactless

Credit card cutting flaw could have killed EVERY AD on Twitter

Twitter has patched a flaw in its service that allowed unauthorised users to delete every credit card from all accounts, potentially relieving the company of its advertising revenue, security researcher Ahmed Aboul-Ela says. The attacks worked through a direct object reference vulnerability and involved the manipulation of …
Darren Pauli, 17 Sep 2014
The fashion world’s most privileged urchin lounges in a luxury hotel in Paris, 1993. © Geoff Wilkinson/RexUSA

Mandarin Oriental coughs to credit card breach

Upmarket hotel chain Mandarin Oriental has admitted to a credit card breach. Investigative journalist Brian Krebs uncovered evidence of a breach before extracting an admission of the problem from the hotel group. The root cause of the security spill – as well as the number of credit cards exposed – remains unclear, pending the …
John Leyden, 06 Mar 2015

Car-crash IT: HUGE write-off for Universal Credit - PAC

Just £34m of IT investment will be re-usable from more than £600m spent on the Universal Credit car-crash IT programme "if" a digital version of the system ever arrives, a Public Accounts Committee hearing has indicated. "The truth is of what we've invested in live, only £34m will go over to digital," said PAC chair Margaret …
Kat Hall, 11 Dec 2014
Downing Street road sign

Universal Credit CRISIS: Up to £200m in IT spend WASTED – NAO

Around £219m in IT investments in the much-maligned Universal Credit programme may be written off, a National Audit Office report has revealed today. To date, £344m in IT investment has been sunk into the programme, but just £125m of those assets are currently in use. The NAO revealed the department has written off a further £ …
Kat Hall, 26 Nov 2014
casino_security

Casino chain Affinity's credit card system popped AGAIN

US Casino operator Affinity Gaming has had its credit card processing system hacked for the second time in less than a year. The Las Vegas-based company said hackers breached a system last month that processed customer credit and debit cards but had no evidence that cards were compromised. "Affinity Gaming and its IT experts …
Darren Pauli, 06 May 2014

Fraud shop OVERSTOCKED with stolen credit cards

Infamous carding store Rescator.cc is so chock-full of stolen credit cards from recent high-profile breaches that it's gutting its prices due to overstocking. The fire sale makes a mockery of the security in place at some of the world's biggest retailers, many of which have in recent months been invaded by hackers who have made …
Darren Pauli, 29 Sep 2014

Universal Credit CRISIS: Howard Shiplee SHIPS OUT of top job

The Department for Work and Pensions' deeply troubled Universal Credit project has lost yet another chief, after Howard Shiplee quit the role on Monday. His decision to walk is a big blow for Secretary of State Iain Duncan Smith, who has witnessed a revolving door of UC bosses since the Cabinet minister unveiled his one-dole-to- …
Kelly Fiveash, 30 Sep 2014
Apple phone payement.

Apple Pay a haven for 'rampant' credit card fraud, say experts

Apple and its banker pals may have inadvertently lowered the barrier to credit card fraud by adding pay-by-wave technology to iPhones, security experts fear. Payment cards can be added to Apple Pay by taking a photo of the card, and allowing a device to run optical character recognition over the image to fill out the long card …
John Leyden, 03 Mar 2015

UK government accused of hiding TRUTH about Universal Credit fiasco

A government body tasked with flagging up troublesome Whitehall projects has been accused of secrecy and ineptitude over its handling of the Department for Work and Pensions' widely panned Universal Credit programme. MPs sitting on the Public Account Committee said in a report published today that the Major Projects Authority, …
Kelly Fiveash, 19 Aug 2014
O2 Pre-Paid Credit Card

Restaurant chain uses CARBON PAPER to fight credit card hack

Chinese restaurant chain P.F. Chang's China Bistro has resorted to mechanical credit card imprint-capture machines after credit and debit card information was stolen from some of its 200+ restaurants. The company says that last Tuesday, June 10th, “P.F. Chang's learned of a security compromise” and “Immediately … initiated an …
Simon Sharwood, 13 Jun 2014
Anonymous video screenshot

Canadian government websites hosed, Anonymous takes credit

Canada's government websites and email servers have been knocked offline in a distributed denial-of-service (DDoS) attack. The assault was apparently a simple flood-the-pipes operation rather than an attempted data-heist. At 5pm local time, according to Bloomberg (presumably in Ottawa), sysadmins were working to get services …

Need reminding how troubled Universal Credit is? MPA puts it in special 'reset' category

Iain Duncan Smith's massively troubled Universal Credit system is so deep in the toilet - according to the government's Major Projects Authority - that it's not even worthy of being flagged with a "red" warning anymore. The Department for Work and Pensions has made such a hash of the huge benefits' reform scheme – which has been …
Kelly Fiveash, 23 May 2014

Pay with your credit card at station kiosk? 'Dare Devil' is targeting YOU

A financial malware strain has been found targeting payment systems behind transit systems and kiosks sucking up all manner of junk data, researchers say. The malware dubbed d4re|dev1l (dare devil) has been found in kiosks at Italy's regional transport company Azienda Regionale Sarda Trasporti, as well as at undisclosed …
Darren Pauli, 01 Dec 2014
PayPal inStore app in action

Credit card of PayPal PRESIDENT cloned by UK crooks

PayPal president's credit card got hacked on a UK visit, the victim revealed on Twitter. David Marcus said that an unidentified criminal used a skimming device and his credit card was cloned before "tons" of fraudulent transaction were made. The senior executive of the eBay-owned payment processing firm made sure to score a …
John Leyden, 12 Feb 2014
australian credit cards fraud contactless

Credit card thieves setting up safe seller certifications

Breakpoint In the world of carding, you get what you pay for: stolen cards are cheaper on riskier public trading forums and more pricey on closed more reliable markets, according to recent analysis. Since 2007, Michigan State University associate professor Thomas Holt, University of North Carolina assistant professor Olga Smirnova and Yi- …
Darren Pauli, 08 Oct 2014

US parking operator: YEP, hackers got your names, credit card numbers, secret codes...

Point-of-Sale systems have been hacked at major US parking garage operator SP+. The breach has resulted in the exposure of customer financial information, SP+ explained at an advisory on Friday. SP+ said it had learned of the breach from the firm that handles its payment card processing. The firm operates about 4,200 parking …
John Leyden, 02 Dec 2014
Games for Windows Marketplace

Boomerang rebound: Site shut amid credit card securo-fears

Video game rental company Boomerang Rentals has pulled down the shutters on its websites amidst unconfirmed concerns that it have may have suffered a security breach that spilled customers' credit card details. Boomerang's homepage has been "down for maintenance" since Sunday. The move followed multiple customers reporting …
John Leyden, 12 Jan 2015
Biometric MasterCard

MasterCard adds fingerprint scanner to credit cards for spending sans the PIN

MasterCard and Norwegian biometrics firm Zwipe have announced the first fingerprint-activated credit card that the companies hope will replace signatures and PINs. "Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers," said Ajay Bhalla, president of enterprise security …
Iain Thomson, 18 Oct 2014
Data breach image

Who has your credit card data? 1 million HOLIDAY-MAKERS' RECORDS exposed

A UK-based online travel firm has been fined £150,000 over a breach of breach of the Data Protection Act after their "insecure" coding reportedly exposed more than a million customer records to cybercrooks. Think W3 Limited was hacked in December 2012 in an attack that relied on what the ICO described as "insecure" coding on the …
John Leyden, 24 Jul 2014

Password bug let me see shoppers' credit cards in eBay ProStores, claims infosec bod

A serious vulnerability that potentially allowed shoplifters to empty eBay ProStores shops and swipe customer credit cards has been fixed – according to the security researcher who says he found the hole. Mark Litchfield, an infosec pro at Securatary, told us he discovered a flaw in eBay-owned ProStores that not only opened the …
John Leyden, 01 Apr 2014

Tech Data goes for big gun credit man amid accounts probe

Tech Data UK has opted for a big hitter to head up its credit function amid the continued probe into accounting irregularities. Blighty's largest distributor has hauled in former Sun Microsystems global credit manager Kevin Corcoran as director of credit services and after sales management. The second element to the title is …
Paul Kunert, 27 Nov 2013

Korean credit card companies hit with 90-day, $100m sales ban

Three South Korean credit card firms which are thought to have exposed the personal data of 20 million customers have been forced to suspend all new business for three months in a blow which could cost them nearly $100 million. Korean regulator the Financial Services Commission (FSC) said the firms were not allowed to sign up …
Phil Muncaster, 20 Feb 2014

Amazon wants in on single-credit-card biz

The mid-November launch of payment startup Coin generated a flurry of press, but in the background, Amazon has also taken an interest in a similar one-card-to-rule-them-all model. In one of those serendipitous moments that Google can provide, Vulture South was wondering about a completely different class of patents when we …
Lock security

Credit card factories given new secure manufacturing rules

The world's payment card producers have released the latest guidelines to help interested businesses to protect payment data. Version 1.1 of the PCI Card Production Security Requirements (pdf) modifies and introduces features for physical and logical security advising on everything from printing PINs to guarding vaults. The …
Darren Pauli, 13 Apr 2015

Korean credit card bosses offer to RESIGN over huge data breach

An IT contractor has been arrested over the theft of credit card and personal details of 20 million South Koreans. Investigators allege an IT worker at the Korea Credit Bureau copied names, social security numbers and credit card details of millions onto a USB stick before flogging them to a marketing firm. He has been charged …
John Leyden, 22 Jan 2014

IDS finally admits what EVERYONE ELSE already knows: Universal Credit will be late

Work and Pensions Secretary of State Iain Duncan Smith admitted for the first time today that the government's Universal Credit system is unlikely to hit its original 2017 deadline, following costly technology implementation blunders. The one-dole-to-rule-them-all project has been hamstrung by poor management, bad decision- …
Kelly Fiveash, 05 Dec 2013
Russia

Did Russians frame Ukrainian hacktivists for alleged leak of 7 million credit, debit cards?

Self-styled Ukrainian hackers are bragging they dumped millions of stolen credit card numbers online – but the claims may simply be a political smear job amid tensions between Russia and the West. A group calling itself "Anonymous Ukraine" boasted this week that it is in possession of 800 million credit and debit card details. …
John Leyden, 27 Mar 2014
Grannote fujitsu laptop notebook elderly old users

Returning a laptop to PC World ruined this bloke's credit score. Today the Supreme Court ended his 15-year nightmare

A dad whose credit rating was "annihilated" over a laptop he bought in 1998 has today won an epic legal fight to clear his name. Richard Durkin's 15-year nightmare began when he walked into a PC World store in Aberdeen, Scotland, to buy a £1,449 notebook. He specifically asked for a computer with a modem. A sales assistant …
Jasper Hamill, 26 Mar 2014
Hacker baseball cap

Claimed Home Depot credit card hack could be biggest retail breach yet

One of the US's largest home improvement chains is investigating whether its systems have been cracked by hackers, as one security researcher has claimed. "I can confirm that we’re looking into some unusual activity and we are working with our banking partners and law enforcement to investigate," the company told El Reg in a …
Iain Thomson, 02 Sep 2014

UK digi exclusion: Poor families without internet access could 'miss out' on child tax credit

Brits who aren't online but are entitled to access to the Tory-led Coalition government's childcare tax break could lose out, it has been reported. According to the Independent on Sunday, which was handed a leaked letter to MPs from Exchequer Secretary Priti Patel, up to 200,000 families could be affected when the new tax is …
Kelly Fiveash, 16 Nov 2014

Big Retail: We don't hate Apple, we hate the credit card companies

The Merchant Customer Exchange (MCX) went on a PR offensive on Wednesday to explain what happened in the hacking attack that saw its testers' emails exposed, why its member retailers banned Apple Pay and Google Wallet, and what makes its CurrentC mobile payment system so great. Dekkers Davidson, CEO of MCX, which represents 50 …
Iain Thomson, 30 Oct 2014

LifeLock snaps shut Wallet mobile app over credit card leak fears

LifeLock has withdrawn its Wallet App and deleted user data over concerns the technology falls short of user data protection rules under the payment card industry's Data Security Standard (PCI DSS). In a statement Todd Davis, chairman and chief exec of LifeLock, said it was suspending the app as a precaution - not in response to …
John Leyden, 19 May 2014

Parking firm pulls app after dev claims: I can SEE credit card privates

An automated parking firm has halted public access to its payment app after a blogger identified a serious security flaw which he claimed allowed him to see other users' credit card information. According to Matt Cheetham, an iOS developer based in Bournemouth, the Phone and Pay app was so leaky that he could easily access other …
Jasper Hamill, 13 Feb 2014

Ignore the GIGANTIC assets write-off, Universal Credit IT 'is working' – UK.gov

Hundreds of millions of pounds are understood to have been wasted on the government's Universal Credit programme - a huge IT project to cut and shut six benefits schemes into one payment system - but Whitehall insisted today that the tech was working. The minister for welfare reform Lord Freud claimed: Most people are claiming …
Kelly Fiveash, 25 Nov 2013
TwitterIPO

Twitter sets up BEELLION-DOLLAR credit line ahead of IPO

Twitter has set up a billion-dollar loan ahead of its initial public offering from a group of big banks. The microblogging site has set up a revolving credit facility from Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank, as well as others, sources whispered to Reuters. All five banks are …
PCS with a red X in front of them

Evil Dexter lurks in card reader, ready to SLASH UP your credit score

Cybercrooks have created an improved version of the Dexter point-of-sale malware that's being blamed for slurping the credit and debit card details of holiday shoppers. A new version of Dexter, first discovered by security researchers Seculert about a year ago, has been planted on 31 infected point-of-sale terminals, located in …
John Leyden, 10 Dec 2013
Francis Maude

Never mind bungled Universal Credit rollout, Maude wants UK to be 'most digital' gov by 2015

Just one day after Francis Maude labelled the bungled deployment of Universal Credit - the all-in-one replacement for the benefits system - as "lamentable", the Cabinet Office Minister has been trumpeting that the UK could be "the most digital government" in the G8 by next year. Maude made the claim on Thursday when his office …
Kelly Fiveash, 10 Jan 2014
The Register breaking news

Credit card donations to WikiLeaks restored as Mastercard breaks ranks

Mastercard has broken ranks with other payment providers such as PayPal and Visa and begun allowing payments to WikiLeaks. Visa, MasterCard, PayPal, the Bank of America and Western Union all suspended payment processing for WikiLeaks days after the site began publishing leaked US diplomatic cables in November 2010. The decision …
John Leyden, 05 Jul 2013