Thursday, March 17, 2005

What happens to stolen credit card numbers? 

The US Secret Service, which investigates financial crimes, says the crooks have highly organized black markets including quality control, online auctions for bundles of stolen credit cards, and specialists in money laundering.

Deborah Gage and John McCormick report on organized on-line crime.

Does this mean the government needs more surveillance powers? Probably not. The article describes how the government took down a ring of crooks who used sophisticated privacy technology. The investigators used an ancient technique, recruiting an informant.

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