The internet makes it possible to steal a little bit from lots of people. If you steal $10,000 from one person, the victim will be mad and prosecutors will be interested. If you steal $10 from each of 1000 people, law enforcement is unlikely to pursue 1000 small cases. The thief gets the same profit with little risk.
In this case the data thieves can make fake credit cards using real names, several million of them, and sell them for $20 each.
It is amazing how much they can make off such things!!!
Plus, who would turn down a $20. credit card? who would even ask questions about it either LOL
They could take them to a local mall and probably sell all them within a couple hours…all profit!!
While I was shopping at Target to buy a gift for my brother, I didn’t use a credit card. I used the rest of a gift card. I slid it through the card slider, and everything went well:).
Unfortunately the tech is growing faster than the general knowledge of the populace.
Law enforcement is ill equipped to protect us from this.
Likewise the banks and vendors cannot protect us.
As is typically the case, it is up to the individual to protect themselves.
Prepaid cards are the way to go to limit damage.
Cash is even better, but cannot be used online.