Tag: Citibank

Debit card bust seemingly long time coming

It seems that authorities have finally made a bust in the Citibank debit card fiasco.

According to The Register, 14 people have been nabbed across a number of states, and there are more to come. It seems OfficeMax was cracked, despite their denials, but they weren’t alone.

What is so curious about this news? Uh…

Hudson County launched an investigation, in conjunction with the New York City Police Department, last June. The first arrests in the case accompanied the recovery of kit needed to fake counterfeit cards from Manhattan’s commercial district in December.

Launched an investigation last June? Made the first arrest in December? Were the authorities dangling people’s bank accounts out as bait? If so, I’d love to see that cost/benefit analysis.

Debit card disaster – PINs and fingerpointing

BoingBoing reported the story of Citibank’s debit card fiasco the first of the week. Many questions remain, and fingerpointing has inevitably reared it’s ugly head.

For those yet uninformed, the week brought to light that a yet unknown amount of debit card data, including card numbers, PINs, and encryption keys, where being used to empty bank accounts. Seems the accounts originate in the US, but the fraudulent transactions were being perpetrated in Canada, the U.K. and Russia.