Tuesday, March 14, 2006

Arrests made in debit card scam

CNet News is reporting that fourteen arrests have been made in New Jersey in connection with the surge of debit card fraud that has swept the United States. The wave of fraud followed security breaches at OfficeMax and other businesses, all of whom apparently retained PIN numbers contrary to payment card standards.

The CNet article has a great quote:

Prosecutor: Debit card crime ring busted CNET News.com

"This is the worst hack to date," [Gartner analyst] Litan said. "All the other hacks were trying to get to this hack. All the previous hacks were leading up to finding a way into your bank account. For the criminal, this is the pot of gold."

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