Showing posts with label credit card fraud. Show all posts
Showing posts with label credit card fraud. Show all posts

Friday, June 26, 2009

Former Health Club Owners Found Guilty of Credit Card Fraud

According to this latest article in Fitness Business Pro, Sean Corriveau, former manager and president of Elite Fitness Inc. has pleaded guilty to fraudulent credit card use, in which he will be forced to pay a $14,000 restitution and serve a 30-day jail sentence.

Corriveau used an unauthorized credit card to purchase $14,000 worth of carpeting for his gym and also accepted prepaid memberships, which was another violation.



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Friday, March 6, 2009

Fraudulent Use of Prepaid Debit Cards

This latest article on KOLOTV.com discusses how two H&R Block customers discovered that they were victims of fraud when they found out that their 2008 taxes had been filed and that the refund had been issued on a prepaid debit card without their knowledge.

Valerie Guerrero that worked as a tax preparer for H&R Block used the prepaid debit card to make several purchases in Sparks. Some of the charges she faces are burglary, fraudulent use of a credit card, possessing a credit card without the owners consent and receiving property as a result of unlawfully using a credit card.

What are some steps that prepaid industry is taking in order to stop fraudulent use of cards?



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Wednesday, December 3, 2008

Retailers Balance Security, Customer Service


Store owners have lost $42.3B in stolen merchandise since the beginning of the year


From: NJBiz.com


Retailers are getting into the holiday season this week, following the early-morning openings and price slashes of Black Friday, the day after Thanksgiving.
Traditionally, store owners would be focused on ringing up enough sales to turn a profit before the end of the year. But fears that a weak economy point to an anemic holiday season are driving retailers in New Jersey and elsewhere to pay a lot of attention to the theft of goods, called shrinkage, that can hammer a company’s bottom line.

“Loss-prevention continues to be a big concern for all sorts of retailers,” said John Holub, president of the New Jersey Retail Merchants Association in Trenton. “Based on my talks with New Jersey retailers, there is some anecdotal evidence that the weak economy is helping to drive an increase in shoplifting as we head into the all-important holiday season.”
Theft will cost North American retailers about $42.3 billion in 2008, down from $43.5 billion last year, according to an annual study released last month by Checkpoint Systems Inc. The Thorofare-based company, which sells retail antitheft systems, credits the drop in shrinkage to improved security measures.

Most of the shrinkage cost is borne by U.S. retailers, according to the Checkpoint survey.
The true cost, though, “is not just borne by retailers, but by consumers and society at large,” said Rob van der Merwe, chief executive officer of Checkpoint. “Shrink is a serious threat to retailers’ bottom lines, and amounts to a hidden ‘tax’ on consumers who are already dealing with the strain of their tightening household budgets during the economic downturn.”



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Wednesday, October 22, 2008

Trouble at Gatwick Airport

A group of seven passengers were recently arrested at Gatwick Airport in London. The seven, three men and four women, were arrested in relation to reports of fraud involving holidays booked to Jamaica paid for using compromised credit cards. (Source: The Press Association)



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Tuesday, October 14, 2008

Ironic Fraud Case

Authorities in Phoenix booked three men for three counts of forgery and one count of fraud. The men had been trying to return laptops to Wal-Mart saying that they had been given empty boxes with no merchandise included. Store employees were suspicious, and called the police. As it turned out, the men had indeed been sold empty boxes, however, they were not completely innocent. Authorities found that the three men had a total of 19 forged credit cards which had been encoded with valid stolen numbers, as reported here.



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Friday, July 25, 2008

Credit Card Fraud detected at Airport

According to this article at Computer World, West Jet airlines of Canada will no longer allow customers to check in with their credit cards as a means of identification due to detected fraud. The incident started occurring at Toronto’s Pearson Airport. This stems from Visa noticing the potential possibility of fraud related when checking into the airline. The website sites that the fraud could be coming from the retailers and the parking system within the airport. The airline is now waiting on Visa to clear up what had happened before they allow credit cards to be used at the check in again.



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Wednesday, July 23, 2008

Online Payment Services Firm Plead Guilty to Money Laundering

PC World reports in this latest article that the three owners of E-Gold, an internet-based payment service like PayPal, have pleaded guilty to charges related to money laundering. The violations include operating a money transmitting business without a license. E-gold, which provided digital currency services, allowed accounts to be opened without verification of user identity. According to the Department of Justice, many E-gold users were using its services for criminal activity, investment scams, identity theft, and credit card fraud. All three owners face potential prison time and fines ranging from $25,000 to $500,000.



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