Hacker steals £27 million in credit card fraud
A computer hacker has stolen a staggering £27 million from unsuspecting credit card holders.
The fraudster, 21 year old Jay Moor, acted as a middleman, selling stolen credit card details through his website Freshshop.
credit cards comparisonHe used the fake shopping website to collect credit card details and then sold them onto internet criminals.
Mr Moor also hacked into payment systems to obtain entire databases of card information, which he also sold off through this website.
Police, who have jailed the computer hacker for three years, found card details of more than 340,000 victims on his home computer.
When he was arrested he had more than £170,000 in cash and bank accounts, as well as £81,000 cash in his bedroom safe.
The credit card criminal from Cromhall, Gloucestershire, pleaded guilty to 12 charges of fraud, money laundering and computer misuse at Bristol Crown Court.
Prepaid cards could reduce the risk of fraud
Despite this heinous act of fraud, overall UK credit card fraud levels are relatively low. According to figures from the UK Card Association, debit and credit card fraud has fallen to a ten year low.
Anyone concerned about credit card fraud could opt for a prepaid credit card. As a prepaid card is not linked to any bank accounts, it dramatically reduces the risk of becoming the victim of fraud.
Prepaid credit cards work much like a pay as you go mobile phone, whereby you load the card with money and you can only spend what’s on the card.
There is no overdraft facility as it is not associated with a bank account and so card holders are not able to spend more than they put on.
This is also good news for those who wish to keep a budget, or who are keen to avoid racking up high levels of debt.