Credit card security has been making headlines coast-to-coast in the wake of Target's massive data breach, but the entire industry is preparing for a big shift next year as the "swipe-and-sign" payment method waves goodbye.
Kids, next time your parent doles out some punishment that you think is too harsh, remember the story about the police officer father who turned his son in for fraud just to avoid paying the tab his kid racked up on his iPad.
You’ve got to hand it to criminals -- sometimes, the tricks they come up with to dupe folks out of money is just amazingly clever. For example, the case of a gang of 11 in England who used stolen credit cards to buy their own unknown music from iTunes and Amazon and score big on royalty payments.
It's been big news lately that iTunes was reportedly hacked and users' confidential data, credit card numbers and the like, have been stolen. Fraudsters ran up huge charges, drained PayPal accounts, and generally ran amuk. The $50,000 question though is this: was the security breach on Apple's side or the users?
An Apple manager was arrested on Friday due to being accused of accepting a large amount of kickbacks, $1 million, from various Asian suppliers of iPhone and iPod accessories. This comes from a federal indictment unsealed, as well as a separate civil suit.