There is some likelihood that your credit card number is for sale in a dark corner of the Internet. The selling value? As small as $3.50 per number. On Tuesday, a huge crackdown on a international credit card fraud ring revealed just how sophisticated — and prevalent — virtual credit card and identity theft has become. Does this mean consumers should be paranoid about the prospect of some kind of credit card fiasco? Financial supply companies affirm customers should not worry also much about stolen credit card numbers. Online security experts strike a different tone, however, warning that cyber thieves are everywhere, stealing personal data. Both groups assent that vigilance is the counter weapon.”Just since a credit card is accessed, it doesn’t mean it will be used for fraud,” said Jennifer Fischer, head of U.S. payment system security for Visa, a card network with 704 million cards in the United States. Payments that are fraudulent are protected under the corporation’s Zero Liability program. The corporation alerts card issuers anytime a third-party’s data — such as that of a merchant — has been compromised. It’s up to the issuer to contact the cardholder. Glance at More…
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