New York Times: Credit card theft thrives online

Matt Richtel reports on how easily stolen credit card numbers are shared over the Internet.

Mr. Power, from the Computer Security Institute, said: “You don’t want to be an alarmist and say, `The sky is falling, and Visa is going to crumble.’ But the financial losses involved in this kind of theft are underestimated, underreported and underacknowledged,” estimating the worldwide cost is in the “double-digit billions.”

“There’s a lot more hemorrhaging going on than some people believe,” he said.

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