Cybercrime Victims Hit Back -- Online

Discussion in 'other security issues & news' started by Prince_Serendip, Oct 15, 2002.

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  1. Prince_Serendip

    Prince_Serendip Registered Member

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    Cybercrime Victims Hit Back -- Online

    As Web thieves get slicker, frustrated consumers are taking matters into their own hands to block further damage


    On Aug. 5, Jerad Rose, from Louisville, Ky., bought computer equipment at online merchant Beatprice.com. Three days later, while checking his bank statement online, he discovered an unauthorized purchase for $825. Rose immediately paid a visit to his bank and canceled his card. But it was too late. By Aug. 9, 14 purchases, totaling more than $1,600, had been charged to his account. Worse, Rose broke one of online security's most basic rules by using a debit card, which allowed thieves to withdraw cash, leaving his checking account overdrawn.

    The situation is everybody's worst nightmare. At best, it requires hours on the phone with your credit-card company. At worst, it could mean a protracted legal battle to reclaim your financial identity. In all cases, consumers feel frustrated, angry, and powerless. In a 2000 report entitled "Nowhere to Turn," the Privacy Rights Clearinghouse found that 55% of the fraud and identity-theft cases reported remained unsolved after an average of 44 months, or almost four years. Victims said they spent between $30 and $2,000 on costs related to identity theft, not including lawyers' fees. The average loss was $808.

    HIS OWN GUMSHOE. Rose, however, is determined not to be left holding the bag. Rather than let his bank handle the matter, he called each of the online merchants where illegal purchases were made and explained his problem. Together, Rose and the vendors were able to trace the computer from which the order came, confirming that it wasn't from his computer. So far, he has prevented more than $1,100 in sophisticated camera equipment from being shipped to an unknown person in Indonesia.

    Read more.....

    ;) Now here's a guy who knows what do and is helping others by his example! This guy should work in Security.
     
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