Your Web News in One Place

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
October 20, 2012 09:05 pm

Visa and MasterCard Take Fight To Scammers


An anonymous reader writes "In his latest story, Brian Krebs reports on a collaboration between brand holders and credit card companies to shut down payment processing for rogue online pharmacies, pirate software sellers and fake anti-virus scams. By conducting test purchases, they map out which banks are being used to accept payments for which scams. Writes Krebs, 'Following the money trail showed that a majority of the purchases were processed by just 12 banks in a handful of countries, including Azerbaijan, China, Georgia, Latvia, and Mauritius.' These results are then fed to Visa and Mastercard who typically shut down the merchant accounts 'within one month after a complaint was lodged.' If you can't accept payments, you can't make money — and without money you can't pay the spammers who advertise your product. This effort is apparently quite effective and has led to much concern by those running such sites."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/aQOTJnNqQKM/visa-and-mastercard-take-fight-to-scammers

Share this article:    Share on Facebook
View Full Article

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot