The nonprofit Identity Theft Resource Center divides identity theft into four categories: financial identity theft (using another's name and Social security number, mother's maiden name, passwords and personal identification numbers to access credit and bank accounts); criminal identity theft (posing as another when apprehended for a crime); identity cloning (using another's information to assume his or her identity); and business/commercial identity theft (using another's business name to obtain credit).
CHICAGO - Michaels Stores Inc. has been hit with a lawsuit by a Libertyville woman claiming that the retailer failed to safeguard shoppers' credit and debit card information and personal identification numbers. The lawsuit comes several weeks after the arts and crafts retailer disclosed that its checkout-line PIN pads had been tampered with in 20 states.
Customers who used debit and credit cards to make purchases at Michaels craft stores in Paramus, Clifton and four other New Jersey locations are being warned to watch their bank and card statements for fraudulent withdrawals, after news of a data breach at the retail chain. The New Jersey State Police said Thursday that it has not received any complaints from state residents about fraudulent activity, but a New Jersey resident reported on the Michael's Facebook page that her debit card had been used to make a purchase in California. Other New Jersey residents commenting on the Michael's page said they had been notified that they will need to change their cards or their PINs (personal identification numbers).
MADISON -- A citizen of Romania pleaded guilty to one count of conspiracy to commit bank fraud stemming from his participation in a multi-state ATM "skimming" scheme that involved a local People's United Bank. A release from the U.S. Attorney's Office said that according to statements made in court, Adrian Mitan, 30, told Judge Janet C. Hall that he conspired with others to install "skimming" devices on ATMS and on card swipe access devices used by banks to control access to ATM lobby doors. The devices were used to capture information encoded on magnetic strips of bank cards used by customers. They also placed devices on ATMS that contained hidden pinhole cameras, which were positioned to record the personal identification numbers that bank customers punched into ATM keypads to access ...
Heartland executives said then that malicious software had been found in the company's processing system, but no merchant data, Social Security numbers, unencrypted personal identification numbers (PIN), ad-dresses or telephone numbers were involved.
A citizen of Romania pleaded guilty to one count of conspiracy to commit bank fraud stemming from his participation in a multi-state ATM "skimming" scheme that involved a local People's United Bank. A release from the U.S. Attorney's Office said that according to statements made in court, Adrian Mitan, 30, told Judge Janet C. Hall that he conspired with others to install "skimming" devices on ATMS and on card swipe access devices used by banks to control access to ATM lobby doors. The devices were used to capture information encoded on magnetic strips of bank cards used by customers. They also placed devices on ATMS that contained hidden pinhole cameras, which were positioned to record the personal identification numbers that bank customers punched into ATM keypads to access their accou...
These days, consumers are pulling out their debit cards more often than their credit cards. While consumers are to be applauded for disciplined spending, the increased use of debit cards has led to a tug of war for profit opportunities among stakeholders. Merchants encourage the use of debit because a debit transaction costs them less than a credit transaction. Merchants can further drive down their costs by asking consumer to use their personal identification numbers (PIN) for point-of-sale (POS) authentication rather than providing a signature. An apples-to-apples comparison between the true profit of PIN POS and signature debit interchange requires that issuers analyze more than the gross interchange rates by merchant and tier.
Personal identification numbers never die - even if you do. That's the frustrating lesson a former West Virginia resident learned as she struggled to have her father's phone service turned off after his death.
LOS ANGELES COUNTY - Los Angeles County District Attorney Steve Cooley warned the public Tuesday about an automated phone call scam targeting victims' bank accounts. The 'robo-calls' play recorded messages claiming to be from major banks," District Attorney's officials said in a written statement. "The messages state there is a problem with the banking network and ask for verification of banking account information, including credit card and debit card numbers, along with personal identification numbers (PINs).
In many instances, a user ID and password serve as the safeguard between consumers' money and online fraudsters. However, growing pressures from consumers and financial regulators over stolen identities and credentials are driving banks to examine new, more sophisticated authentication technologies for real-time fraud prevention. Authentication is the process of examining, and then verifying, the proper identity of parties involved in the transaction of data or money. User names, passwords and personal identification numbers have been standard for authentication and online account access for years. Usually, individuals choose a word or set of characters that are easy to remember and can be used for multiple accounts. This practice puts consumers at risk for easy detection and fraudulen...
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