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Ron_Akins
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Posted:3/05/2010 9:23 AM |
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Chainsaws, Rogaine and X-Box consoles: these are a few of thieves' favorite things. So don't be too surprised if you get a phone call from your credit card company asking if you've suddenly gone bald.
A marketplace stocked with millions of dollars of stolen property. Credit card fraud is on the rise, and organized crime rings have figured out many ways to steal your credit card and take it on a shopping spree at national chains such as Best Buy and Target. Most of the time, they're not shopping for themselves. Instead, they're looking for hot brands and popular electronics that will easily resell on the Internet or at street stands.
"The dumbest of criminals will buy a cell phone for themselves," says Joe LaRocca, senior advisor for asset protection at the National Retail Federation. "Most of them want merchandise that can be sold for a profit."
Criminals charged $15 billion to stolen credit card accounts in 2008, up from $12 billion the year before, according to California-based financial security consultants Javelin Strategy & Research.
To read the full article click here.
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