Massive fraud via Web payment site


Online fraudsters tried to charge money to stolen credit and debit cards this past weekend using the processing service of a major online payment provider. According to CNET News.com, several Web hosting companies that use the Authorize.Net service to accept credit cards online saw a quick surge in transactions, most for $500 and $700. The charges were billed to Visa, MasterCard and American Express cards across the U.S., representatives for three Web hosts told the news site.

"These hackers got their hands on high-quality data, and they used merchants of ours to run that data through the merchant's Web site, which goes through our platform," said David Schwartz, a spokesman for Authorize.Net in American Fork, Utah. The Web hosting companies came across the unusual charges through the e-mail alerts that Authorize.Net sends after each transaction. Close to 3,000 suspicious transactions were pushed through the merchant accounts of at least three companies. Security Bytes: Massive fraud via Web payment site

Linked by shanmuga Wednesday, 5th April 2006 3:54AM