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Man Charged With Biggest ID Theft In History

Man Charged With Biggest ID Theft In History

Albert Gonzales of Miami might never have thought it, but he’s making history. The 38-year-old, along with two unnamed Russians, has been charged with the largest identity theft in history – stealing data from 130 million credit and debit cards.

The Department of Justice alleges that Gonzales used an SQL injection attack to breach firewalls and steal the information. His targets included 7-Eleven, Hannaford Brothers, and card payment processor Heartland Payment Systems. Two other companies are mentioned but not named.

The stolen data was sent to servers in California and Illinois, as well as to Latvia, Holland and the Ukraine from where it could be sold.

 Read more...

Motorola Freezes Salaries, Cuts Benefits

It’s no secret that Motorola has financial problems. Standard & Poor’s has given it a junk credit rating, and it was having financial troubles prior to the credit crunch biting hard.

But it’s taking steps to ride out the recession. Co-chieif executives Greg Brown and Sanjay Jha have both agreed to forgo their 2008 cash bonuses and will take a 25% salary cut, according to CNET.

Beginning in 2009, the company will suspend its matching 401k contributions for employees, and will freeze its pension plan from the start of March. It will fund its pension obligations to retirees, however.  Read more...

Kentucky AG Victim of Identity Theft

On June 5 Kentucky’s Attorney General, Jack Conway, announced the introduction of a cyber crime unit in the state, and it began operations only last week, with a focus on identity theft.

Now it certainly has a crime to investigate, as Conway himself has been a victim of ID theft.

He discovered the problem when his credit card was refused by iTunes, and he says thieves used his stolen credit card to spend thousands of dollars on postal charges, Vonage service, and on computers.

Now the new unit is investigating.  Read more...

Apple Launches iPhone Credit Program

As Steve Jobs announced last week after dropping the price of the 8 GB iPhone by $200, Apple has unveiled details of how early iPhone buyers can receive $100 in Apple Store credit. The credits are by way of apology for dropping the iPhone price so much—and so quickly—after the product went on sale in late June. Although early adopters of any new technology always pay a premium, Apple responded to customer complaints and announced to $100 credit program to soften the blow.  Read more...

Citigroup Loses Customers Information

Well, technically it’s not Citigroup’s fault. According to the company, UPS lost the backup tapes which held information for 1.9 million Citigroup customers while shipping them to a credit Bureau in Texas. The tapes also contain information for about 50,000 closed customer accounts.

Citibank claims customer accounts are safe because they require direct approval by the customer, but what about your credit information, social security number and other personal information that was lost? I guess we are all out of luck there.

Experian was the credit agency receiving the tapes says CNN. UPS ships more than 14 million packages a day, so accidents are bound to happen right?  Read more...

Arcade Games To Accept Credit Cards

Today’s high-tech games increasingly appeal to an older set. And soon those customers will be able to use credit or debit cards as a payment option.

These so-called “micropayments” are gaining currency on the Internet as a way to perform small-ticket transactions such as downloading a song or accessing other online content.

One early customer is Incredible Technologies Inc., a manufacturer of coin-operated video games like the Golden Tee golf game. It has selected Peppercoin 2.0 to process credit card transactions in its future lineup of games, which will be able to take credit card swipes.  Read more...

E-Mail Scammer Gets Four Years

Houston, Texas, federal court Judge Vanessa Gilmore sentenced Houston resident Zachary Hill to 46 months in jail for his role in duping consumers into turning over 473 credit card numbers.

The Justice Department said the sentence is “one of, if not the longest” ever handed down against an e-mail scammer, said spokesman Michael Kulstad.

Hill, 20, used a “phishing” scheme to make his e-mail look like it came from America Online, the nation’s largest Internet service provider, or PayPal, the online payment subsidiary of auction giant eBay. The message told victims that their accounts had lapsed and that the companies required their credit card numbers and passwords to restart them.  Read more...

Canadian Credit Information Stolen

The security breach was confirmed Monday by Equifax Canada Inc., a major national consumer-credit reporting agency.

By gaining access to the files, criminals have obtained social-insurance numbers, bank- account numbers, credit histories, home addresses, job descriptions, the names of spouses

New York Fines PayPal $150,000

PayPal, which claims 40 million customers worldwide, had specifically stated that it provided the same rights and protections of a traditional credit card transaction, said Attorney General Eliot Spitzer. But consumers were often denied those rights, he said.

For example, consumers who didn’t receive merchandise purchased through PayPal were often denied reimbursement from either PayPal or American Express or Discover credit cards. A spokeswoman for Spitzer said consumers complained they were being bounced between PayPal and their credit card companies and there was no prompt action.

Read the full story at CNN.

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