Debit Card Thieves Ship Shopping Spree to Victims
iStockPhoto/Thinkstock(ANCHORAGE, Alaska) — When Chris and Susie Linford of Anchorage, Alaska, found out that their bank account was drained of nearly $5,000 without their knowledge, they were stunned.“We had our debit card on us the whole time,…
Swipe Card Reform: Are Consumers Saving Money?
Comstock/Thinkstock(NEW YORK) — As the one-year anniversary of credit and debit card swipe fee reform approaches, a debate about whether shoppers are saving at the register as a result rages on.The National Retail Federation (NRF) estimates that U.S. …
High Gas Prices: Should You Blame Your Bank?
iStockphoto/Thinkstock(NEW YORK) — Should you blame your bank for high gas prices? A new report out Tuesday says it’s not just supply and demand and Middle East politics that determine the price of a barrel of crude; Visa and MasterCard and the …
Former Army Reservist Says Bank of America Refunding $25K in Fraudulent Debit Charges
Jin Lee/Bloomberg via Getty Images(UTICA, N.Y.) — Two years later, Bank of America is refunding $25,243.71 to a former army reservist for charges he said were fraudulently accrued to his debit card while he was on leave from service.John McDevitt, a U…
2011 Was Worst Year for Suspected Financial Crimes on Record
iStockphoto/Thinkstock(WASHINGTON) — A tidal wave of fraud reports fed by an ingenious array of scams borne out of the mortgage crisis have swamped federal offices, which are investigating and prosecuting only a small percentage of the allegations.In …
Check Fraud Declining, But Debit Card Crimes on the Rise
Hemera/Thinkstock(NEW YORK) — During a year that saw a record rise in financial crime reports, one scam that has plagued banks and consumers for decades is fading away: check fraud.Reports of suspected counterfeiting, check fraud and check kiting were…
Thieves Target Gas Pumps to Skim Credit, Debit Cards
iStockphoto/Thinkstock(LOS ANGELES) — High gas prices have been putting a dent in people’s wallets in recent months, but a small device planted by thieves at gas pumps could be affecting your wallet in a much bigger way.The thieves are known as …