Silk Road and the online drugs trade - Truthloader Investigates
mrgodfrey3at July 14,2015 This guy will be arrested one day and will be sent away for ten+ years. The card industry needs to change to the embedded chip. The merchants also need to improve their game to spot these thieves and start asking for ID.
arautat July 15,2015 Some Credit unions use anomalies to raise flags.My credit union blocked my card, when there was a transaction made in VA and another one in NC , within an hour.
logybombat July 20,2015 Credit card companies are getting much better at detecting identity theft. Also too, a lot of banks and credit companies are moving into the cloud and handling transactions online with businesses like PayPal. This doesn't avoid identity theft, but it does eliminate types like what was shown in the video. For the criminal, it can't be a very good life moving from place to place never really knowing what will happen the next week, and all for a couple hundred dollars here or there.
TimWalshat July 21,2015 I think the content presented in this video makes me believe in multi-factor authentication when using credit cards. Based on how easy the criminal made this look, I think we need a little bit more than just credit card companies cracking down on fraud.
kkrishnaat July 22,2015 Yeah, I think the credit card system in the US has been slow to switch to the chip. The magnetic strip isn't that secure and it's easy for guys like these to get away with what they are doing. Obviously, the banks use sophisticated algorithms and have fraud insurance that pays these claims. But the best way to prevent fraud is to cut off the sources by using the most secure technology available.