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Visa/MC Take fight to Scammers

Anonymous Coward writes | about 2 years ago

0

An anonymous reader writes "In his latest story, Brian Krebs reports on a collaboration between brand holders and credit card companies to shut down payment processing for rogue online pharmacies, pirate software sellers and fake anti-virus scams. By conducting test purchases, they map out which banks are being used to accept payments for which scams. Writes Krebs, "Following the money trail showed that a majority of the purchases were processed by just 12 banks in a handful of countries, including Azerbaijan, China, Georgia, Latvia, and Mauritius." These results are then fed to Visa and Mastercard who typically shut down the merchant accounts "within one month after a complaint was lodged." If you can't accept payments, you can't make money and without money you can't pay the spammers who advertise your product. This effort is apparently quite effective and has led to much concern by those running such sites. Summing up this position is one rogue pharmacy affiliate who writes on a Russian-speaking underground forum, "IMHO, there is a general sad picture, fucking Visa is burning us with napalm.”"
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