13 June 2008
Criminals are beginning to take advantage of measures created in an attempt to protect consumers' credit card details, one outfit has suggested.
The Address Verification System (AVS) can be exploited, claimed Andrew Goodwill, Director at expert company the 3rd Man, due to billing techniques, reports vnunet.com.
Fraudsters usually find that the chances of being caught out using cards online are minimised due to address notification.
"This is a serious problem that fraudsters are exploiting in significant volume. Retailers relying on AVS, or where a retailer will only deliver to the billing address, are facing a potentially huge risk," he commented to the news source.
If these methods continue to be used, Mr Goodwin added, then there will be a high number of data breaches and a great deal of money will be taken.
This week, it was revealed that personal details of those who have used the internet retailer Cotton Traders have been compromised.
© 2008 Adfero Ltd
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