Gee, Thanks: Donations with a Stolen Credit Card

by Jordan Yerman | July 8, 2007 at 08:32 am
821 views | 6 Recommendations | 3 comments

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A thief who nicks your card may dash right out and make a donation  to a popular charity... if only to make sure that the card is still active.


Even amongst identity-theft circles, verification and trust between buyer and seller is key, not unlike on eBay, wherein real-life pictures of the product on auction will inspire more confidence than an image cribbed from Amazon.

Some fraudsters have become generous -- with other people's money, donating to charities with stolen credit cards to verify the numbers are valid before selling them, the security firm Symantec Corp. said Friday on its blog.

Unverified cards fetch up to $6 while verified cards can bring up to $18, said Javier Santoyo, a manager at Symantec. "Even the bad guys want to verify the other bad guys."

The verification method has become popular because the monitoring software at credit-card companies may not question donations to charities, according the Symantec blog. Santoyo said the schemers usually donate less than $10.

American Red Cross spokeswoman Carrie Martin said, "This happens all the time. We have people at the Red Cross who deal with this type of activity."

Last month alone, the Red Cross refunded 700 fraudulent credit-card transactions, Martin said.

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1
infomatique

This happened to me with my Bank Of Ireland credit card. I check my cards online everyday and a few weeks ago I was more than surprised to discover that I had become very generous in my old age. I had contributed $5 to CARE - GET ACTIVE 800-422-7385 US. This was not a stolen card as I had only recently received it. The $5 was refunded but I ended up down 3 cents due to changes in exchange rates.

infomatique
infomatique
flagged this story as Good Stuff

at 08:54 on July 8th, 2007

Already added comment. Good stuff.

0
Charity Victim

I was charged twice, on my visa labeled bank card, in two days for  $11.00 each, by the same fraudulent charity. I had to report it to my bank, cancel my bank card and get a new one. These people have no shame, I don't know why they are not behind bars? 

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