Tuesday, January 8, 2002

Credit-card cloners' $1B scam Homemade machines costing about $50 are being used to read credit-card mag-stripes, without having to steal the cards. The information is then e-mailed abroad, where cloned cards are fabricated. This has become a billion-dollar-a-year enterprise. [PGN-ed from Monty Solomon's e-mail to Dave's IP, subtitled Terrorists, mobsters in on hacking racket, by William Sherman, *NY Daily News* http://www.nydailynews.com/today/News_and_Views/City_Beat/a-137421.asp] [The gadget was first demonstrated in maybe 1960s at Caltech as part of a demo on how poor the mag-striped credit cards were. In spite of that, they won. Dave] [David Farber via risks-digest Volume 21, Issue 86] 0:00 # G!