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Articles about Credit Reference

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
The Register breaking news

Hackers crack Texan bank, Experian credit records come flooding out

Hackers managed to get login credentials for Experian's credit scoring reports after they broke into the systems of Abilene Telco Federal Credit Union last year, it has emerged. Crooks gained access to the west Texan bank's systems after hacking into an employee's computer. The September 2011 breach allowed the hackers to get …
John Leyden, 29 Oct 2012
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Major Brit IT provider denies turning to fellow resellers after burning up lines of credit

British comms provider Azzurri has rejected suggestions that its finances are so precarious it has been forced it to tap up fellow resellers for product. Azzurri provides various well-known UK firms and government departments with comms and data services, reselling a range of vendor products in the telecomms, networking and …
Paul Kunert, 17 Jun 2013
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Woohoo! UK IT channel insolvencies plunge to pre-credit-crunch levels

Insolvencies in Britain's IT distribution channel have plummeted to pre-global economy meltdown levels according to credit reference agency Graydon UK. Some 57 companies went under in the fourth quarter of 2012, representing a fall of more than 35 per cent on the same period a year ago when 88 businesses went to the wall. The …
Paul Kunert, 10 Jan 2013
Disney's Beagle Boys

Experian subsidiary faces MEGA-PROBE for 'selling consumer data to fraudster'

Several US states have launched an investigation into a subsidiary of credit reference bureau Experian after a fraudster allegedly bought millions of consumers' personal data from it. Vietnamese national Hieu Minh Ngo allegedly used information obtained through Experian subsidiary Court Ventures to run two identity fraud- …
John Leyden, 07 Apr 2014

Brit IT industry comes up for air after recession

There are fewer corporate pile-ups on the channel highway than at any point in more than a decade and a half, official stats from credit reference agency Graydon UK reveal. Some 31 firms bit the dust during the second quarter of calendar '14 - the joint lowest rate since 1998 - way down on the 89 recorded a year ago or the 61 …
Paul Kunert, 09 Jul 2014

How con men snatched £100,000+ in iPads and other kit from IT disties

A network of fraudsters has swiped iPads and other consumer tech worth at least £100,000 from IT distributors and resellers, according to credit reference agency Graydon UK. The swindles stretch back 18 months and typically involved members of the network either hijacking a dormant company or setting up a bogus firm and filing …
Paul Kunert, 10 Jul 2013

UK tech channel in RUDE health as bankruptcies dip in Q1

It's time to crack open the bubbly: corporate fatalities in the UK channel have fallen for the fourth consecutive quarter, official stats from credit rating firm Graydon UK reveal. Some 61 companies bit the dust in the first three months of the year versus 64 for the same period of 2013, indicating that the UK IT industry has …
Paul Kunert, 04 Apr 2014
The Register breaking news

Doxer who? Toxic site drops offline after exposing Paris Hilton's privates

A rogue website that published the financial details on US celebs, politicians and other public figures was taken offline over the weekend - but not before it published the supposed credit reports of Bill Gates and CIA Director John Brennan. Meanwhile, all three of the major US credit agencies confirmed that fraudulent activity …
John Leyden, 18 Mar 2013
balaclava_thief_burglar

Feds charge Vietnamese suspect with slurp'n'flog of half-a-million Americans' ID data

A Vietnamese man has been charged in connection with a long-running scam involving the theft and resale of what the DoJ rather hiply refers to as the "fullz”* (personal information) of hundreds of thousands of Americans. Hieu Minh Ngo, 24, a Vietnamese national, was hit with a total of 15 charges, including conspiracy to commit …
John Leyden, 22 Oct 2013
closed_sign shut down under collapsed liquidation

Channel firms, rejoice: You're not going out of business nearly so often

Channel insolvencies have fallen for the third consecutive quarter, according to official stats from credit reference agency Graydon UK. Sixty-four tech suppliers hit the wall in Q1, down a whopping 28 per cent on the same period a year ago. Broken down by type there were 45 voluntary liquidations, four compulsory liquidations …
Paul Kunert, 08 Apr 2013

Dip in Blighty's titsup tech firms... but what about the ZOMBIES?

An eerie calm has descended in the UK technology channel* as company failures stabilise and the recession lifts, but with legions of undead corporate corpses stalking the land, an insolvency storm could now be brewing. That was the prognosis of experts in the credit and insolvency sectors, a week after UK GDP figures from the …
Paul Kunert, 01 Nov 2013
The Register breaking news

Fraud victims urged to use DPA to rebuild credit ratings

UK victims of identity fraud are being urged to use the Data Protection Act as a tool to restore their credit rating. E-Victims.Org, a former internet support group for those affected by cybercrime, said that even after victims are able to establish fraud and absolve themselves of liability to fraudulent debt they are still left …
John Leyden, 07 Oct 2008
closed_sign shut down under collapsed liquidation

'Petrified' insurers slam wallets shut as more resellers go titsup

The small sequential rise in reseller insolvencies in Q3 - in line with seasonality - will do nothing to calm credit insurers' general uneasiness about the IT sector. Data from credit reference agency Graydon UK, shows 75 channel firms bit the dust during the summer quarter, up from 64 in Q2 but dramatically lower than the 93 of …
Paul Kunert, 23 Oct 2012
Crystal ball via http://www.manoftaste.de/

PEAK MOBILE: IT biz spending forecasts SLASHED

We're not even a full week into the second month of 2014 and beancounter IDC has lowered its global IT spending forecasts, amid volatility in emerging markets and on fears that smartphone and slab sales have peaked. An eye watering $2tn was splashed on tech last year, including $1tn on hardware, but IDC has already pegged back …
Paul Kunert, 05 Feb 2014
grab_that_cash

Bumbling fraudsters fail to dupe 'Westcost' customers

Fraudsters masquerading as British distie giant Westcoast failed in their attempts to convince resellers to redirect their payments for products and services to a dodgy bank account, the company has confirmed. The scam was initially spotted by some of Westcoast's customers, who then contacted the distributor. The company has …
Paul Kunert, 20 May 2013
closed_sign shut down under collapsed liquidation

2014: The year of the cloudy biz bankruptcy... or maybe it isn't?

Once again the channel has proved to be a hardy bunch as insolvencies remained pretty much stable in 2013, despite a meltdown in some areas of tech infrastructure spending. Some 293 resellers bit the dust in the previous calendar 12 months, versus 285 in the previous year: a 2.8 per cent rise. 66 hit the wall in Q4, up from 57 …
Paul Kunert, 23 Jan 2014
The Register breaking news

Oops, they did it again? Britney Spears, Paris Hilton 'LAID BARE ALL OVER THE WEB'

A rogue website has leaked what's claimed to be the detailed financial records of US celebs, politicians and other public figures. The site has published the alleged financial lowdown on US first lady Michelle Obama, blowhard Donald Trump, Arnold Schwarzenegger and both Paris Hilton and Britney Spears, among many others. Vice …
John Leyden, 12 Mar 2013
The Register breaking news

UK.gov uses Experian data to sniff out fraudsters

HM Revenue and Customs (HMRC) and the Department for Work and Pensions (DWP) have signed a deal with credit reference agency Experian to use its data to detect fraud and error in the tax credits and benefits systems. They said that a recent pilot protected more than £16m of potential losses in tax credits, and that the move …
hands waving dollar bills in the air

Insurance giant: IT dealers will survive the downturn

The UK boss at credit insurer Euler Hermes reckons that although channel insolvencies may edge up again next year, B2B resellers are in comparatively rude health. The number of IT dealers hitting the wall returned to levels not seen since the dot-com bust during the first half of 2011 and are forecast to remain high as the …
Paul Kunert, 05 Dec 2011
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Reseller insolvencies at 9-year high: 89 firms hit the wall

Reseller fatalities remained close to highs not seen since the dot-com bust as small generalist dealers and independent retailers succumbed to economic pressure. Figures from credit reference agency Graydon UK showed that 89 channel firms went under in Q1, edging up from the 88 firms that hit the skids in Q4 and 17 per cent …
Paul Kunert, 12 Apr 2012
The Register breaking news

BA staff to google for snaps, dirt on biz-class passengers

British Airways has denied "compiling secretive data" about its business-class passengers after launching its "Know Me" programme to personalise customers' travel plans. The Evening Standard today reported that BA staff will be given Apple iPads and told to use Google to research key frequent flyers. The employees are encouraged …
Kelly Fiveash, 05 Jul 2012
The Register breaking news

Creditsafe suspends website in wake of drive-by download attack

UK credit reference and credit recovery agency creditsafe.co.uk took its site offline on Tuesday, as a precaution, following a hacking attack. The site remains offline at the time of writing on Wednesday afternoon. Miscreants planted malicious code on Creditsafe Limited's1 website. This code had the effect of redirecting surfers …
John Leyden, 15 Jun 2011
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Channel body count hits dotcom implosion high

The channel body count in 2011 reached a high not seen since the dotcom bubble burst, stats from credit reference agency Graydon UK reveal. In Q4 88 firms collapsed, up nearly 30 per cent year-on-year, which took the tally for the whole of 2011 to 356, up by almost one third on reseller fatalities in the previous twelve months …
Paul Kunert, 07 Feb 2012
closed_sign shut down under collapsed liquidation

Misery ending? UK reseller insolvencies may have bottomed out

Insolvency rates in the UK channel were back to pre-recession levels in Q2, according to official stats from credit reference agency Graydon UK. The picture is remarkably different to a year ago when reseller failures reached a nine-year high with 99 firms hitting the wall, a pattern that continued until the end of Q1 2012 when …
Paul Kunert, 02 Jul 2012
hands waving dollar bills in the air

Fraud a growth sector as UK economy stalls

Fraud is staging a come back in the channel as crims gamble on the desperation of some fretful business owners in the harsh economic climate. Stats from credit reference agency Graydon UK reveal a massive spike in fraud attempts, up 130 per cent for the first five months of 2011 to 214 cases, with company hijacking and cloned …
Paul Kunert, 27 Jul 2011
The Register breaking news

Gah! EU data protection will STIFLE business, moans gov.UK

The European Commission has not calculated the full costs to businesses of changes to the EU data protection regime, the Government has said. The Ministry of Justice (MoJ) said that the Commission's assessment on the impact its draft General Data Protection Regulation would have on businesses does "not properly quantify the …
OUT-LAW.COM, 02 Jul 2012
The Register breaking news

US jails Brit credit card fraud mastermind for 14 years

An expatriate Brit who helped mastermind the US's biggest credit card fraud has been sentenced in New York to 14 years imprisonment. Former computer help desk technician Philip Cummings, 35, pleaded guilty to conspiracy, wire fraud and fraud offences last September over his central role in a scam believed to have hit more than …
John Leyden, 12 Jan 2005
The Register breaking news

'End of passwords' predictions are premature - Cambridge boffin

Advances in the power of computers won't automatically make passwords obsolete, according to a top computer science researcher. Joseph Bonneau, a postgrad researcher at Cambridge University, looked into the perceived wisdom that runs along these lines: "Since computers are getting exponentially faster, yet the human brain is …
John Leyden, 21 Jan 2013
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Struggling tech resellers face winter of annihilation

Reseller insolvencies are predicted to remain at record highs during the December quarter as the UK economy hangs on the edge of a second recession. As exclusively revealed by El Reg in the summer, Graydon stats showed that 175 channel firms went to the wall in the first half of 2011, up 43 per cent on a year earlier, reaching …
Paul Kunert, 24 Nov 2011
The Register breaking news

ICO warns coalition on benefits snooping plan

The Information Commissioner has asked coalition ministers to explain their plans to use credit reference agencies to gather evidence of benefit fraud, citing privacy concerns. Christopher Graham today said he has requested a meeting with the welfare minister Lord Freud. It follows David Cameron's announcement yesterday of a …
The Register breaking news

OFT restricts use of insurance tool

Competition watchdog the Office of Fair Trading (OFT) has reached agreement for limiting the use of a tool produced by credit reference company Experian over fears that it could lead to illegal price co-ordination. Seven insurers and two IT companies have agreed to limit the information they share and the OFT has warned that the …
OUT-LAW.COM, 14 Jan 2011
The Register breaking news

Whitehall fraud pilots save £12m

The Cabinet Office says data-matching has helped its anti-fraud initiatives to stem huge losses from government funds. The government has said that three pilot projects aimed at tackling the £21bn lost each year through fraud and error have delivered £12m worth of savings in their first few months. According to an interim …
The Register breaking news

Paedophiles face credit card blacklist

Paedophiles who use credit cards to pay for access to child abuse sites risk having their credit cards withdrawn. National Crime Squad Assistant Chief Constable Jim Gamble said UK police were working with banks and credit reference agencies on procedures to blacklist offenders. The same credit cards sometimes feature in …
John Leyden, 09 Jun 2004
The Register breaking news

Portuguese hackers strike back at Moody's downgrade

Portuguese hackers responded to a negative assessment of the country's ability to repay loans by defacing the website of credit reference agency Moody's. The defacement restores the rating of the debt-crippled nation to the highest (A++) mark, while simultaneously attacking Moody's website security and business practices. One …
John Leyden, 08 Jul 2011
The Register breaking news

Credit checkers launch ID fraud watch services

Britain's two largest credit reference agencies, Experian and Equifax, last week began offering online credit reports services designed to help combat ID fraud. Experian's CreditExpert service alerts consumers by email or SMS text when important changes have taken place on their credit report, which they can access online to …
John Leyden, 22 Sep 2003
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UK Channel insolvency rates soar to nine-year high

Insolvency rates in the UK channel are at the highest level seen since the dotcom bubble burst, official figures have confirmed. The UK economy is looking shaky: inflation is rising, government is forging ahead with harsh public sector cuts and High Street retailers are going into meltdown; parts of the channel are also showing …
Paul Kunert, 08 Jul 2011
The Register breaking news

Hackers can’t crack us, say credit agencies

Europe's largest credit reference agency has hit out at reports that hackers are able to break into internal networks and alter sensitive personal and financial information held on databases. Peter Brooker, associate director at Experian was responding to a story featured in yesterday's Daily Telegraph about a man whose details …
Tim Richardson, 02 Feb 1999
The Register breaking news

ID fraud costs UK £2.7bn a year

Identity fraud affects 1.8 million Britons every year, costing £2.7bn in the process, researcher claimed today. A study by the National Fraud Authority - published on Monday at the start of identity fraud prevention week - found that fraudsters gain by more than £1,000 from every stolen identity. Stolen credentials are used to …
John Leyden, 18 Oct 2010
grab_that_cash

Stay 10 steps ahead of big vendors before they steal your lunch

So far the data centre channel has been reasonably resilient to the economic downturn, but news of a double-dip recession will send many resellers scrambling for their tin helmets. The reality is that value-added resellers (VARs) are being squeezed like never before, and a most unlikely threat has emerged: big vendors offering …
Andrew Binding, 06 Jul 2012
The Register breaking news

Bulk of Companies Act finally rolled out

Most of the 2006 Companies Act will finally come into force on Thursday, when 550 sections of the massive Act are implemented, leaving only a handful of sections to be enacted. The Companies Act was the biggest single piece of UK legislation ever passed and its introduction has been staged over three years. Almost all of its …
OUT-LAW.COM, 29 Sep 2009
The Register breaking news

Money for nothing – and your (gambling) kicks for free

We're all so sure that there's no such thing as a free lunch, that the offer of anything for free has us looking for the catch. So, depending on your attitude to gambling, the offer of a free bet from a bookmaker might have you looking for the devil himself angling for your soul. money for nothing cartoon But bookmakers do …
Team Register, 25 Nov 2010
The Register breaking news

Guardian loses half a million CVs

The Guardian newspaper's jobs website has warned 500,000 users that hackers may have got hold of private information held on the site after a "sophisticated and deliberate" attack. The paper said not all users were at risk, and it has emailed those who are. The email, sent on Saturday, said data relating to job applications "may …
John Oates, 26 Oct 2009
The Register breaking news

Bill defines 'personal information' to avoid strengthening DPA penalties

Ah, the reality of power. For all the opposition talk about strengthening the protection of privacy, in the first weeks of government, the pro-privacy proposition has become more difficult to implement. The inevitable result is that gears are being put into neutral or reverse (as quietly as possible, mind you). So it is with the …
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Equifax typo derails digital cert

Equifax has followed HSBC in making a hash of renewing one of its digital certificates. Consumers logging onto Equifax's UK website last week were greeted with a notice that the site couldn't be verified because its certificate had expired. That's the same problem HSBC banking business customers also experienced last week when …
John Leyden, 11 Mar 2008
The Register breaking news

Electoral officers oppose edited register

Most local authority electoral officers support the information commissioner's recommendation to scrap the edited electoral roll, according to a new survey. The survey of 204 councils, taken during August by the Local Government Association (LGA) and the Association of Electoral Administrators, found that 98 per cent of officers …
Kablenet, 27 Aug 2008
The Register breaking news

ICO targets lost laptop breaches under tougher fine regime

The deputy commissioner of the Information Commissioner's Office said that it is no longer a "toothless tiger" and has the resources and resolve to apply enhanced powers to data protection miscreants. David Smith said increased fines of £500K, introduced in April, for the worse case of privacy breaches would "concentrate minds …
John Leyden, 27 Apr 2010
The Register breaking news

Video vigilante site emerges from legal battles

Internet Eyes, a controversial service that invites web users to provide low-cost monitoring of CCTV cameras in exchange for prizes, will finally launch next week. Following claims last year that its plans were illegal, the start-up firm now says it has satisfied privacy regulators that it will comply with the Data Protection …
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Bogus PI coughs to ID theft charges

A US man who fraudulently accessed the details of thousands on a credit reference database pleaded guilty this week to ID theft-related charges. Brian Dill, 33, of Simi Valley, California, claimed to be a private investigator in order to access privileged information on the Merlin Information Services database. As part of a …
John Leyden, 21 Jul 2006
Dunce cap

Equifax asks customer to email debit card photocopies

Credit checking giant Equifax left Reg reader Thomas flummoxed when it told him to send copies of the front and back of his debit card when he asked for a credit report. Equifax has said the request for debit card photocopies was down to human error, but defended its use of email in processing credit reports. Sending anything …
John Leyden, 08 Feb 2008