Digital pickpocketing
THIEVES USE DIGITAL PICKPOCKETING TO SKIM CREDIT CARD DATA FROM COLORADO SPRINGS CUSTOMERS By Lisa Walton Updated: July 21, 2014 at 7:43 am Credit card thieves are using a type of “digital pickpocketing” technology to steal credit card information from unsuspecting victims. Technology has emerged in recent years that enables thieves to intercept credits card information with a simple swipe during a purchase. That information can be cloned to another card and used [...]
More skimming of credit cards
CREDIT CARD THIEVES TARGET GAS PUMPS, ATMS, RESTAURENTS WITH SKIMMERS Jul 19, 2014, 9:12 AM ET By ABC NEWS via NIGHTLINE More cases of credit card thieves using “skimming” devices to steal unsuspecting customers’ credit card information are popping up across the country, not just at gas stations, but also ATMs and even restaurants. When a credit card is run through a skimmer, the small device stores the cardholder’s data. Once [...]
Operation choke point choking legitimate business 2 of 2
Operation Choke Point Hearing Reveals DOJ Threats And Strong-Arming 8:15 AM 07/18/2014 Jonah Bennett A Justice Department fraud prevention program came under fire Thursday for allegedly morphing into actively pressuring banks to deny financial services to businesses for political reasons. Operation Choke Point functions as a partnership between the Department of Justice (DOJ) and various other federal agencies which deal with bank regulations, specifically the Treasury and the SEC. The objective [...]
Operation choke point choking legitimate business 1 of 2
Countering Operation Choke Point, Acquirers Canceled 10,000 Fraudulent Merchants July 14, 2014 By Jim Daly Seeking to contrast the merchant-acquiring industry’s actual practices with the impression created by the government’s Operation Choke Point that acquirers turn a blind eye to shady merchants, the industry’s leading trade group on Monday said its members last year discharged more than 10,000 merchants for fraud. That statistic comes from the Washington, D.C.-based Electronic Transactions [...]
Be smarter when handing off your credit card
By Dan Rafter Published July 17, 2014 It can happen in an instant. Employees at your local department store, repair shop or supermarket just have to turn their backs to you for a fraction of a second to swipe your credit card with skimmers connected to their belts. Once they do, they have your credit card information. They can then do with it what they want. “These issues happen almost daily,” says Yair [...]
8 faqs about new EMV credit cards
8 faqs about new EMV credit cards By Sienna Kossman Published July 15, 2014 The nationwide shift to EMV has begun. EMV — which stands for Europay, MasterCard and Visa — is a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. In the wake of numerous large-scale data breaches and increasing rates of counterfeit card fraud, U.S. card issuers are migrating to this [...]
Take these credit cards with you
DON'T LEAVE HOME WITHOUT THESE CREDIT CARDS Martha C. White 6:45 AM ET Although credit card perks vary widely, the overwhelming majority of rewards credit cards give the user travel insurance coverage. Among rewards cards from major issuers, nearly all offer travel accident insurance and almost 80% offer luggage insurance, according to the website CardHub.com, and all of the major networks — Visa, MasterCard, American Express and Discover — provide coverage [...]
Who is Jeremy Ochsner?
CEO, Stillwater Payments | Helping clients reduce processing fees and avoid rate increases and egregious lease schemes