Wednesday, December 24, 2008

A Look at the Credit Card Theft Underground

This is a fascinating article in the recently-released January issue of Wired magazine about the credit card theft and fraud underground. It's the story of the rise and fall of a completely criminal -- and quite technically sophisticated -- business enterprise.

Unlike the print version, which I just picked up, the online article has a video with Detective Bob Watts of the Newport Beach PD, telling how some of it was done, complete with card pressing and embossing equipment. The machines were used to press real cards from the stolen data.

The article also has a link to another video on the Identity Theft Secrets web site about CardersMarket.com, one of the web sites used in the criminal venture.

And while we're on the subject of credit card security, here's five tips from SC Magazine for successfully complying with the Payment Card Industry Data Security Standard (PCI DSS). Besides being required for any business involved with credit cards, PCI compliance is one big step in protecting against credit card crime.

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