Welcome Visitor   Login    |    Register Now
   Home    |    Biography    |    Forts    |    Warriors    |    Articles    |    Gallery    |    Sources    |    Contribute   

[b][url=http://www.loveomegawatches.com/omega-gents-collection-c-8.html]watch[/url][/b] [b][url=http://www.loveomegawatches.com/omega-gents-collection-c-8.html]watches for men[/url][/b] copy watch
copy watch
replica omega

Starbucks card used in money laundering scam By Gitte Laasby of the Journal Sentinel Aug. 12, 2013 Tweet Email Print | (0) Comments

watches Have a Starbucks card that automatically replenishes when the balance is low? Now might be a good time to start watching your bank statements.

copy omega watches The "auto reload" function can be used as a blank check that gives strangers access to your bank account if the card gets into the wrong hands — or your account number does.

cheap watches A New York City woman found this out the hard way last week when she discovered that more than $1,700 had vanished from her bank account in about an hour.

cheap watches From her story in Gigaom , it sounds like Lauren Hockenson is more vigilant about her spending than a lot of consumers, in that she uses a website (Mint.com) to keep close track of her budget and spending and send her alerts when she's spending too much.

watches sale She received an email from the website on Aug. 4, saying $470 from her account was spent on coffee. She checked her account and found out a total of more than $1,700 was missing. But it was taken out as separate cards worth $30 and $60 over two half-hour intervals, so no fraud alerts had been triggered from her bank.

omegawatches "Loading up separate cards and paying for them in $30 or $60 increments makes it appear as if multiple cards are being issued — almost like I had decided to buy 33 Starbucks cards for my extended family," she explains. "The transaction log — which shows rapid transactions in three-minute intervals — indicate that Auto-Reload fields could be accomplished with a simple macro. Log in, click to the card, input new credit card, reload, repeat."

Apparently, scammers had skimmed her debit-card number, maybe at a subway station vending machine or a local merchant, she says.

After that, the scammers were able to take advantage of the fact that Hockenson's Starbucks card was set for "auto reload" and automatically replenishes when the balance goes under $10.

A Starbucks rep told her that the company watches out for major purchases done at once, such as $300 on a single card, but that smaller increments over many usernames can be hard to track for fraud. The rep said this was a common problem, but that Starbucks tries to shut down suspicious reload activity when reps see it.

"Money gets laundered through these cards and then often sold on eBay at some discount to the face value," Hockenson explained. "The scammer profits, of course, and the buyer doesn't realize what has happened until he or she is unable to register the card for Starbucks' rewards service."

The bank ultimately refunded Hockenson the money, but her experience is a reminder to anyone with an auto-replenishing account anywhere (Toll Road transponders come to mind as well) to watch your bank activity closely and make sure there are no unauthorized charges. It's just the latest way that scammers are taking advantage of a modern convenience to drain and launder money.

It's also a reminder to watch for card skimmers, including fake card readers. We had one of those in Waukesha just earlier this year.

For more consumer tips and viral stories, follow Gitte Laasby on Twitter @GitteLaasbyMJS or like her Facebook page .

Comments (0) Tags: Starbucks : card : consumer : scam : auto reload : eBay : money laundering : mint.com : alert Permalink | Email This Blog watch
watches for men

Weblink:    180

watches for men

Starbucks card used in money laundering scam
watches for men

watches for men

View from Heaven
Gallery by well know arial photographer Mr. Gopal Bodhe. See forts of Shivaji Maharaj from top view.. Something you shouldn't miss..

आता मिळवा शिवारायांवरील काव्य मराठीत: केसरी गुहेसमीप मत्त हत्ती चालला
Read poems on shivaji maharaj in marathi
Contact Us    |    Advertise with us    |    Disclaimer    |    Copyright