Saturday, May 16, 2009
In a story published in today's "The Guardian" they report that 45 people from an International Fraud Ring have been arrested in New York City. Here's an excerpt...the complete story hyperlink is here: Guardian Newspapers
45 Arrested In US Over Alleged $12M Credit Card Scam
Authorities in New York City, United States arrested 45 people allegedly involved in a series of financial and identity crimes earlier this week in what New York City authorities called the dismantling of an "international credit card and identity fraud ring'.
A statement from the District Attorney's office for Queens County (under New York City) late on Thursday said in the last one year alone, this group of Nigerians and their American collaborators have engaged in fraud estimated at $12 million. About 22 of the over 40 alleged criminals have already been arraigned at a New York Supreme Court.
The New York authorities in an investigation involving city lawyers, cops and detectives from New York Police Department and other agencies, disclosed that nearly "four dozen individuals" have been charged after a 21-month investigation, where counterfeit credit cards were used to steal money. Queens District Attorney, Richard A. Brown, joined by Police Commissioner, Raymond W. Kelly, on Thursday announced the indictment and busting of 45 people in the international forged credit card and identity theft ring based in the New York metropolitan area "with roots in Nigeria."
Detailing the operation of the crime rings, however, District Attorney and the New York Police Commissioner said they comprise of three separate identity theft and forged credit card groups that employ multiple cells that are "alleged to have been responsible for stealing the credit cards and personal credit information of thousands of American and Canadian consumers, costing these individuals, as well as financial institutions and retail businesses, more than $12 million in losses over the past year alone."
District Attorney Brown said: "In terms of just the sheer number of people indicted - this is one of the largest identity theft networks uncovered in recent history and is just possibly the tip of a much larger global credit card trafficking operation."
He added that "technological advances have made it increasingly easier to carry out identity theft and fraud - two of the fastest growing crimes in the US and which afflicts millions of victims and costs billions of dollars in losses to consumers, businesses and financial institutions."
Mobile Commerce, Twitter to Save E-Comm Sales? - InternetNews.com
comScore says mobile commerce and social marketing may be the savior of the future for online sales.
May 15, 2009
By Michelle Megna: More stories by this author:
While e-commerce growth was flat for the first quarter, the sector likely bottomed out, with online sales increases likely to hover around 5 percent for the second half of the year, comScore Chairman Gian Fulgoni said during a Webinar going over the research firm's Q1 findings.
Though e-commerce had seen double-digit growth for the past several years, Fulgoni said the worst may be over, as he cited mobile commerce and social network and video site marketing at sites such as Twitter and Hulu as opportunities for bolstering sales in the near future.
"The good news here is that I think it's bottomed out, in the second quarter we saw 13 percent growth, that dropped to six in the third quarter of 08, in Q4 it was minus three, now flat in the first quarter, so we're not seeing a continued downward trend," said the comScore (NASDAQ: SCOR) chief.
He was less optimistic, however, on future growth for this year, saying it's not likely online sales will see the double-digit increases the sector enjoyed over the past few years, and reluctantly predicted about five percent spikes.
In terms of how the Internet is affecting shopping behavior, comScore data shows three-quarters of people are likely to collect information online before buying offline. "That says it all right there. You need to move marketing dollars to build your brand online," said Fulgoni.
Continue Reading at InternetNews.com