Malaysia-based credit card fraud ring broken, 105 arrested

A total of 105 credit card fraud suspects have been arrested in Asia and Europe following a complex months-long investigation across two continents. The investigation targeted a gang led from Malaysia whose tentacles spread into 14 European countries (including the UK and Germany) and specialised in using counterfeit credit …

[LDS]

Now that polices are afraid terrorists may also take advantage of that...

... will eventually take a closer look at this "business"...

In Italy too they have discovered - only now - that people inside the national mint (which also prints passports and the like) were selling documents that should have been destroyed to rings that were using them to create fakes. Probably it has been going on for years, with controls looking the other side ("pecunia non olet"), now the fear of terrorists is making those controls working a little better...

[Anonymous Coward]

Credit card fraud tentacles ..

Wouldn't be so lucrative except how it's so easy to compromise your W****** desktop computer.

[patrickstar]

Re: Credit card fraud tentacles ..

Most stolen card info comes from either skimming, compromised merchants or card processors.

[robidy]

Re: Credit card fraud tentacles ..

Can you log back on to the Daily Mail if you want to post uninformed comments.

That's as ill informed as say Mac's can't get viruses or that Linux can't be hacked.

[Slx]

The technology needs to completely change to payments being pushed to the retailer from a device. The idea that you can just trust people with a card number, expiry date and maybe a couple of extra optional security features like CCV code etc is a complete joke.

Credit card fraud can't be stopped with this very, very broken system.

There's plenty of technical solutions to this. The banks just seem to be incapable of keeping up. I mean when you consider they're STILL rolling out chip and pin in major markets like the USA. This is a solution from the mid 1980s that's taken 30 years to become widespread.

Why are they still using magstripes in ATMs?

Why are they accepting any transactions without proper verification? Plenty of places will accept payment without Verified by Visa or MasterCard Secure Code etc

I can only assume banks just don't care and have enough money to donate a % to crime.

That or the entire sector is just incompetent.