FTC kills ingenious micro-payment scam
US consumer watchdogs have closed down a lucrative credit card scam that ran undetected for up to four years. The con involves a series of low-value payments from compromised credit cards made in favour of a large number of dummy firms set up by fraudsters, the Federal Trade Commission alleges. The cybercrooks charge only $0.25 …
"It was a very patient scam," said Steve Wernikoff, a lawyer at the FTC prosecuting the case told IDG. "The people who are behind this are very meticulous."
The odd thing is it seems to work no matter how you hold the Credit Card.
But I hate Apple so you get my upvote lol
Seems a clever scam, Nice to see people taking small risks not large ones! I say let em run a "real" bank!!
Surely that's a little daft?
I can't help thinking the guys that run this could have run a legitimate business as succesfully. It must have taken a substantial amount of effort and planning, along with substantial work time to keep everything running along. It's a shame they didn't try a more legal basis for their enterprise.
It probably is legal in the country they are now living in. Smart chaps.
Mexicans call bribes "Mordida" or the little bite. So I guess these guys survived a long time taking little bites.
$9m is $2 1/4mm a year. split say 10 ways that's still better than $200k a year tax free working how many hours a week?
However in the US sentences can get handed out on the *size* of the theft as well as the amount of violence involved.
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