Friday, 18 January 2008

Sophisticated Credit Card Fraud Syndicate

Source: DSLReports forum (via Sunbelt Blog)

A cybercrime researcher has written an extensive report on a sophisticated credit card fraud syndicate. The scam is complex, involving the creation of bogus online shop-fronts, the hiring of mules in the USA to set up companies and merchant accounts, and some means of obtaining credit card details so as to create large numbers of small fraudulent transactions. The researcher has been investigating this fraud and its increasing sophistication for some years, and it is still very much a going concern.


pamfur said...

i think some scamer has just phoned me saying ive been chosen to win a car and money.and that i entered into on line syndicate i cant remeber doing this they wanted my bank deatails i said no.and i would be sent a card to shop on line and earn money from doing so.also i would be in a lotery syndicate for 40 something pound a month.dose this sound fishy to you

The Famous Brett Watson said...

Yes, that sounds mighty fishy to me. I can think of several ways in which this might develop into fraud. Please keep us posted with details if they try to take the scam any further -- this could be educational.