October 16, 2009
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News: Security Software Credit Card Scam
If there's one thing Americans can believe is that if a credit card scam is going on in another country, the scam is going on in the United States as well. Americans are not immune to some of these credit card scams and one of the most recent and intrusive is occurring in Beijing, the Capital of the People's Republic of China. Beijing authorities have been warning citizens to be on the alert for a major scam involving popup windows on the internet selling anti-virus software. The fake software provides an avenue for criminals to illegally obtain individuals' credit card numbers and personal information. Symantec, the prominent internet security software firm recently released a report that showed over 40 million internet users have already been victimized by the fake software.
The fake software labeled "scareware" is a multi level scam which first charges a large purchase fee and then allows the criminals to hack into computers around the world to steal the customers' credit card and personal information used for identity theft. It is estimated the thieves cost consumers over $1.2 million a year through fraudulent activities. The criminals generally use pop-up windows with the names of globally accepted computer businesses like Microsoft with false warnings of security threats. The pop-up windows are designed to mirror the authenticity of the computer company. Consumers are offered the fake software at what is said to be a great value price to repair the security issue. After the software is downloaded it gives the thief the capabilities of stealing credit card numbers, PIN numbers, and any other personal information stored on the computer.
Some of the cyber criminals also used the fake software to take control of the computer and freezing it in order to have you once again pay another fee for repair. Many victims don't report the actual purchase scam of the fake software because they are not aware of what it is. For those who have discovered unauthorized transactions on their debit and credit card accounts, they often do not connect that the breach occurred on their own computer and the means by which the cyber criminals acted. The Symantec report indicates that over 250 known fake security software products have been detected and the number continues to grow.