'I'm the first to admit that we've made a bunch of mistakes' This was the week when an Android app developer claimed he had conclusive proof that millions of smartphones are secretly logging key presses, locations and even messages. And Best Buy hoped to smack Dixons around a little before it runs back overseas with its tail between its legs, with a big closing down sale. This was also …
"Operation Robin Hood will take credit cards and donate to the 99% as well as various charities around the globe. The banks will be forced to reimburse the people there [sic] money back."
...at which point the banks will initiate a chargeback against the merchant account of "the 99%" (who I suspect haven't actually got one) and "various charities" (most of whom probably do and probably don't want a bunch of chargebacks chalked up against it).
It's clear that anonymous and friends have no idea (or don't care) how the banking system works. If they donate money from a stolen card to a charity then not only will the charity not get to keep the money, they will be charged a chargeback fee by the bank as insult to injury. The banks are _NEVER_ on the hook for the money, only the merchant and this stunt will only hurt the people they are pretending to want to help.
It's not strictly true is it?
Ok, if you steal a credit card and do the transaction then it's easily reversed. but if you wash the money, send it between banks, buy shares, sell them quickly etc. and then donate it to charity then it's practically untraceable.
Still... TeamPois0n are evidently a talented hackers, but we'll have to wait and see if these guys can pull of this off, sounds very complicated.
"Ok, if you steal a credit card and do the transaction then it's easily reversed. but if you wash the money, send it between banks, buy shares, sell them quickly etc. and then donate it to charity then it's practically untraceable."
You steal a card, and you do a transaction... to where? It needs to be something you control to go any further. Then you launder the money, somehow, and finally donate it to charity.
Wherever you did the transaction to is going to end up with a reversal and chargeback fee... There's a good reason stolen cards are used to pay for physical goods, which are then generally sold 'off the grid' for a loss!
Banks may compete with each other, but try and cheat them and they soon work together to trace it through their systems. The only way to hide it is to have a believable, physical, gap in the chain somewhere... dirty money becomes cash somehow, Then the cash goes back into the system in a plausible manner!
with your name and address, so that the tax man can give the charity a bonus out of your previously paid tax.
This is either a stupid, stupid, stupid idea, or a moderately clever wheeze by bank robbers. I also expect to see it in advance-fee fraud (419) spam e-mails beginning probably yesterday. Or maybe that's what it IS.
OK I nominate this for the quote of the year, just because it shows just how dillusional he is. I mean when I think of a "mistake" I think of little things like I forgot to tie my shoes, fell and broke an arm. Or, I accidently under paid on my income taxes... Or I mistakenly flushed flushed my wifes cartier tennis bracelet down the drain..
What Face Book did was NO mistake.
Even if Anonymous/Teampoison (sorry, can't be bothered to spell 'properly') were able to pull that off? How would it help anyone getting their credit card blocked due to fraudulent transactions (which certainly will happen)? I fail to see how that is doing any service to people on holidays, abroad, or those facing major embarrassment in their favourite shop around the corner, when their credit cards are declined as a consequence of this shit.
To all hackers out there: You do it, just because you can. Don't try to sell your criminal activities as a service to the people. It's nonsense.
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