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Presentation on theme: "COMPUTER CRIMES CREDIT CARD FRAUD “A BILLION DOLLAR PROBLEM”"— Presentation transcript:



3 Identity Theft Identity theft happens when someone steals your identity and impersonates you in order to open credit accounts, “take over” existing financial accounts, rent apartments, even engage in criminal acts. Consider: –“Takeover” Fraud –“Shotgun” Fraud (Minimal Information) – More Sophisticated Application Fraud Techniques (More Substantial Amounts of Information Required)

4 Identity Theft What information is valuable? –Credit Card Account Numbers –Social Security Numbers –Mother’s Maiden Name –Date of Birth –Place of Birth

5 Identity Theft Information Sources How do ID Thieves get information? –Completing a "change of address form" at the post office –Stealing the information from "the inside" - as in a grocery store clerk taking key information off of a check that you have written –Trash Bins – “Dumpster Diving” –Mail Theft

6 Identity Theft Information Sources –From Credit Reporting Agencies Usually “Bad” Third Party Companies, or Access using stolen subscriber numbers & passwords –From Organizations and Individuals Often Using “SOCIAL ENGINEERING” –RARELY By using Sophisticated Techniques to Intercept Data in Communication Lines or Hack into Files or Databases with Sensitive “Useful” Information –From Government Agencies (e.g.: PAPER TRIP, NET DETECTIVE [“Greased Information”])

7 Internet Information Sources Net Detective Claims Locate e-mails, phone numbers, or addresses. Get a Copy of Your FBI file. FIND DEBTORS and locate HIDDEN ASSETS. Check DRIVING and CRIMINAL RECORDS. Locate old classmates, missing family member, or a LONG LOST LOVE. Do Background Checks on EMPLOYEES before you hire them. Investigate your family history, birth, death and SOCIAL SECURITY RECORDS! Discover how UNLISTED phone numbers are located. Check out your new or old LOVE INTEREST. Verify your own CREDIT REPORTS so you can correct WRONG information.

8 Net Detective Claims Track anyone's Internet ACTIVITY; see the sites they visit. Explore SECRET WEB SITES that conventional search engines have never found. Discover little-known ways to make UNTRACEABLE PHONE CALLS. Check ADOPTION records; locate MISSING CHILDREN or relatives. Dig up information on your FRIENDS, NEIGHBORS, or BOSS! Discover EMPLOYMENT opportunities from AROUND THE WORLD! Locate transcripts and COURT ORDERS from all 50 states. CLOAK your EMAIL so your true address can't be discovered. Find out how much ALIMONY your neighbor is paying. Discover how to check your phones for WIRETAPS.

9 ID Theft Personal Protections Carry only the cards (credit and ID) that you need to have with you; file others in a safe place at home. Sign your credit cards immediately. Do not carry your social security card with you. Keep it in a secure, safe place. Do not attach a pin number or social security number to any cards you carry with you.

10 ID Theft Personal Protections Do not attach or write a pin number or social security number on anything you are going to discard (e.g. a receipt). Shred any document that contains your credit card number before you discard it. Check receipts to ensure you received your own and not someone else's. Alert your card issuer if you do not receive your statements. Someone could have taken them from your mailbox and could be using your credit card number.

11 ID Theft Personal Protections Do not give personal information or account numbers to anyone until you have confirmed the identity of the person requesting the information and verified that you need to provide them with the information. Frequently check your credit report or subscribe to a Credit Report Monitoring Service (e.g. Equifax Credit Watch, Credit Check Monitoring Service) to monitor your credit file daily and be alerted of changes that can be an early warning of identity theft, such as new account openings or changes to your address. (,

12 Counterfeit and Credit Card Theft Countermeasures

13 CREDIT CARD FRAUD COUNTERMEASURES –Fraud Databases –Card Activation Processes Using Phone Recognition Methods and Personal Information Verification Methods –Credit Report WARNING Systems (Address, SSN checks) –AI/Neural Network Systems which Detect Abnormal Activity –ATM Withdrawal Maximums –MAGNETIC NOISE !! –Biometrics –Smart Cards –PHYSICAL CREDIT CARD CONTROL FEATURES

14 MasterCard/VISA Physical Controls Tamper Evident Signature Panel Three Dimensional Holograms Customized Characters (e.g.: Slanted V on Visa Cards) Other “secret” features not made public. CVC (Card Validation Code – Visa) & CVV (Card Validation Value – MasterCard)

15 CVV/CVC Control The CVV and CVC codes are the product of an algorithm being applied to the credit card number. There is an internal code programmed into the magnetic stripe (invisible) and another different external code (visible).

16 Computer Crime Things to Remember !! Who causes companies the largest losses and what can be done to reduce that problem. What are the more serious fraud problems on the internet and how can individuals protect themselves from internet fraud. How do “fraudsters” commit ID theft & Credit Card Fraud in general, their sources of information and how can this problem be controlled. Visa/MasterCard Control Mechanisms Hackers: Categories, Methods, and Controls


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