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MGDPremium,MVM
join:2002-07-31
kudos:9 | reply to Zenith
Re: Ebook websites, fraud charges, Devbill/DigitalAge/Pluto said by Zenith:Not sure how you find all of your information, but it's appreciated. Almost seems like a hopeless situation when it comes to stopping the crooks. Thanks, after uncovering and tracking this operation for well over two years, I consider myself an authority on the matter.
said by Zenith:...Almost seems like a hopeless situation when it comes to stopping the crooks. Well.. maybe, ... maybe not, however, I am giving it one last shot. I cannot continue to devote the resources necessary to stay on top of this. It is a very complex and sophisticated operation. It is also dynamic, and is changing to adapt to any roadblocks that are being placed in their path. So it is vital to intensively monitor their activities, so as not to loose track of the mechanics of the operation.
Besides cutting off the operation, and attempting to identify the core group of criminals behind it, there are also the changes that need to made in the financial system to prevent it from happening. Remember, this amounts to millions of dollars a year, and has been operating unfettered for several years. Though the charges that are caught by victims are removed, consumers are still footing the annual bill for this. When you add the cost of card replacement, and the time, effort, calls, and paperwork that each victim has to go through, the total cost of the crimes are considerable.
There are no line item deductions from bonus checks for fraud each year, that cost in its entirety is passed on to consumers. Despite the promoted image of relative safety in the financial system, to the contrary, there are numerous gaping security holes. It is a misnomer to state that consumers are not liable for fraud. They may not be individually, but they still pay for it collectively.
The problem with this long running criminal enterprise is that it has been missed completely year after year, by the banks, the card brands, and the merchant processors, e.g. authorize.net / cybersourse.
At the lowest common denominator level, you actually have card victims where their own bank is processing the fraud charge out of their account, and into another one at the same institution belonging to the criminals. So while some customer of the bank is on the phone complaining, and getting the runaround about the charge. The criminals are having the fraud proceeds wired out of another account there, in increments under $10,000, off to Eastern Europe. All occurring week after week, right under their nose. Also, don't forget about the gateway processor, oblivious to this, year after year.
Remember, this massive criminal operation has been identified and documented from the outside. Just imagine the data and resources that are available on the inside to have detected this. The problem with the cost benefit decision calculations that are made in writing off financial crime, are flawed. The fraud that you are writing off today, becomes the epidemic that you will have to deal with tomorrow. Tolerance and inaction breeds future epidemics.
MGD | |
Zenith
join:2008-03-12
Danville, IL | Was wondering if you have ever received positive feedback from www.IC3.gov?
I've called several ID Theft hotlines and made a few reports. One report was made to the FTC and they actually gave me a report number. I told the person that my situation only involved a small amount and the person said, "The amount doesn't matter......it's still fraud" and took the information for the report. This happened prior to your post about 888-590-9662 no longer being active. Difficult for me to understand why there are so many Government ID Theft hotlines. Does anyone know if there is a central Government hub for ID Theft reports and information? | |
MGDPremium,MVM
join:2002-07-31
kudos:9 | said by Zenith:Was wondering if you have ever received positive feedback from www.IC3.gov? ........ Does anyone know if there is a central Government hub for ID Theft reports and information? IC3 is the most appropriate in this situation, since they are a Federal entity. They will disseminate the reports to the relevant agencies, and are a central database where this information can be collected. Unfortunately they do not usually respond or reply to submissions. However, that does not mean that they are not acted upon.
Since this criminal operation involves multiple class A federal felonies, includes money laundering, ID theft, credit card fraud, data hijacking, etc., IC3 is the best place to report it.
In addition, the multiple bank accounts and corresponding LLCs are located in many different states. Plus the major criminals who operate this crime syndicate, live and operate it from outside of the jurisdiction. The process of identifying, and eventually arresting and charging them will require cooperation and participation from foreign governments.
MGD | |
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