Friday, May 11, 2012

Global Payments Breach Fueled Prepaid Card Fraud

Debit card accounts stolen in a recent hacker break-in at card processor Global Payments have been showing up in fraud incidents.

Image source: Article
Union Savings Bank began seeing an unusual pattern of fraud on a dozen or so debit cards it had issued, noting that most of the cards had recently been used in the same cafe at a nearby private school.

USB officials say the bank has suffered approximately $75,000 in fraudulent charges, and that it has so far spent close to $10,000 reissuing customer cards.

Can crooks encode card numbers and expiration dates onto your CU's cards? Read more to see how they are doing it.

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