Target: eBay, Amazon, & Credit Card Processors

Blue Dollar SignThe last (for now) installment of our Target series of articles addresses the large repositories of credit card information such as eBay, Amazon, and of course credit card processors for MasterCard and Visa. They’re huge, they use computers and the Internet to conduct their business, and there’s a market for credit card account information; and…you guessed it: personally identifiable information (PII).

Yes, we’re talking about extremely well-known, successful companies who undoubtedly have the best computer and Internet security money can buy. However, those attributes also make them more of a target in terms of the high potential for huge sums of money to be stolen; and the bragging rights of having hacked such a well-known name and stolen, probably, record amounts of money. Remember, the cyber crime organizations have the very best “tools” to break into the most secure computers and websites.

We as customers and card holders, are the ultimate victims of such a crime. We are protected by the card companies from fraudulent online purchases because the card companies take the loss. But we are still victims because we suffer having our credit card cancelled and must deal with a new one; but more importantly, our credit record and scores are damaged by use of the credit card account by thieves who run up these purchases and make no payments for, sometimes, months or years before the fraud is discovered. It took me three years to get all three credit bureau services to correct my history and my credit score after having my card used fraudulently.

We can somewhat limit our exposure to credit card fraud by using a credit card with a low purchase limit for our online purchases; and monitoring our credit card transactions statement for unauthorized purchases, etc. Then, if fraud is suspected, call your credit card company immediately and have your account frozen.

The PII stolen is another story that involves new credit and debit card accounts being opened in your name, and purchases and withdrawals made against those accounts…that you’re responsible to pay. The resultant bad credit history and scores are similar to the credit card fraud discussed above. Neither of these scenarios are pleasant ones.

Be very careful…it’s dangerous out there.

Please comment on this article; we all learn from each other when our views and opinions are shared.

I hope you enjoyed this article. If you enter your email address in the Email Subscriptions box on the right column of this page, I’ll send you an email when a new article is posted. I don’t share your email address with anyone…no one; I hate spam too. Please share my site with your friends and family. Thanks.

Remember, personal computing is a blast…keep it productive and enjoyable.

Best regards,

Paul

paulsinternetsecurity(at)yahoo.com

@PaulsInternet on Twitter

Images courtesy of FreeDigitalPhotos.net and FreeByte.com

Advertisements

Leave a comment

Filed under Cybercrime, Internet, Internet Security, security, Warning

What do you think?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s