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ST. LOUIS NEWS TODAY - Sunday, June 27, 2004
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MasterCard Unites Top Fraud Fighters
to Wipe Out Phishing Identity Theft
ST. LOUIS, MO. (SLFP.com), June 27, 2004 - MasterCard International and NameProtect, the leading digital fraud detection company, have announced they are working together to aggressively combat illegal online activities such as "phishing" identity theft schemes and the brokering of illegally obtained payment card numbers in the online environment.
The first-of-its-kind partnership comes at a time when identity theft and other forms of card fraud are on the rise. The Federal Trade Commission has reported that identity theft has been the No. 1 consumer complaint for four consecutive years.
Phishing attacks, which use fraudulent e-mails and Web sites to lure consumers into divulging personal financial information, also have increased significantly. According to the most recent data from the Anti-Phishing Working Group, of which both MasterCard and NameProtect are members, there were 1,125 unique attacks in April - a 180 percent increase over March.
Many times, these scams and other forms of fraud are perpetuated by criminals buying and selling card numbers and other personal information via hidden online forums.
Rather than simply reacting to online fraud and identity theft after it has occurred, MasterCard and NameProtect will take a more aggressive approach to the wave of cyber scams attacking online consumers and companies today. Under the partnership, MasterCard will leverage NameProtect's technology to detect online scams in real-time as they proliferate across the Internet. Working in cooperation with law enforcement, the partnership will seek to dismantle the online tools and venues that are used by identity thieves before they can be used to steal personal information from unsuspecting consumers and help ensure that cyber criminals are prosecuted to the fullest extent of the law.
"We are confronting identity theft head-on by taking the fight directly to where payment card scams breed and spread," stated Sergio Piñ˜n, senior vice president, MasterCard Global Security & Risk Services. "By identifying these illegal card number-swapping rings and working to close down these online 'payment card black markets,' as well as sites that are established solely to steal personal information, we can squash illegal activity before people's accounts are compromised."
NameProtect also will help protect MasterCard's own identity from being stolen by seeking out fraudsters attempting to spoof MasterCard's logo and other branding insignia to use for phishing attacks.
"The MasterCard initiative is compelling in its scope and reach," stated Mark McLane, NameProtect Inc. Chief Executive Officer. "The financial services industry and their customers are the subject of growing and increasingly sophisticated attacks online. This partnership creates a platform to attack the source of Internet-based fraud."
"The integration of the existing MC fraud alert system, leveraging global law enforcement, and the use of NameProtect industry-leading technology takes the commitment to battle identity theft and card fraud to a new level," continued McLane. "We are extremely pleased to be helping MasterCard provide this best in class solution to the accelerating problem of Internet-based identity theft and payment card fraud. MasterCard's leadership in combating this critical threat will help to protect not only its own customers, but will help ensure that these attacks do not erode the consumer confidence that is critical to health of the Internet as we know it today."
Consumers can take proactive steps to thwart identity theft, such as:
- Regularly obtaining personal credit reports from all three credit reporting agencies and carefully reviewing the information. Question - and correct - any inaccuracies.
- Try to avoid providing their mother's maiden name as a security feature. In many cases, identity thieves can find this information with little difficulty. Instead, consumers should substitute a name of personal significance, such as a grandmother's maiden name, a friend or family member's nickname, or a favorite author's name.
- Assigning a separate password for each account requiring one. This step can help limit the amount of damage a criminal can do.
- Shredding documents that contain important personal information such as account numbers or Social Security numbers before discarding.
MasterCard in turn will be able to report illegal Web sites and other illegal online forums to the proper authorities, such as the United States Secret Service, the Federal Bureau of Investigation, the U.S. Postal Service, and Interpol, for appropriate action. Through its MC Alerts service, MasterCard also can provide this information immediately to its nearly 25,000 member financial institutions, which can use it to protect themselves and their millions of cardholders from having card accounts compromised.
Children's Book Seller Scholastic at Home Resolves Consumer Complaints
JEFFERSON CITY, MO (SLFP.com), June 27, 2004 - Children's book seller Scholastic at Home Inc. has agreed to resolve hundreds of complaints from consumers who say they received unordered merchandise, and to pay $90,000 to the state after an investigation by Attorney General Jay Nixon.
Cole County Circuit Judge Richard Callahan on Tuesday (June 22) approved an agreement between Nixon, Scholastic at Home and its affiliate, Grolier Inc., in which the companies agree not to bill, charge, or attempt to collect payment from consumers for any merchandise which the consumer has not ordered or solicited.
Scholastic at Home's national distribution center is in Jefferson City. Both Scholastic at Home and Grolier are Delaware corporations whose principal places of business are in Danbury, Conn.
Two hundred forty-two consumers from around the country complained to the Missouri Attorney General's Office, other state attorneys general offices and the Better Business Bureau about the business practices of Scholastic at Home and Grolier. Consumers said they received merchandise they did not order, and some consumers said they were billed for the merchandise.
The companies have agreed to refund payments to those consumers who paid for the unordered merchandise. Those consumers who did not pay for the unordered merchandise will be allowed to keep the merchandise at no cost.
Scholastic Inc. purchased Grolier in 2000. Scholastic at Home and Grolier are now both subsidiaries of Scholastic Inc. Scholastic at Home informed the Attorney General's Office it has been reviewing the business practices of Grolier and making needed improvements in customer service.
In a statement, Nixon said, "Scholastic at Home plays an important role in the education of many children across the country. I am pleased this company has agreed to play by the book when it comes to treating families fairly."
Under the agreement, Scholastic at Home and Grolier will provide the Attorney General with a compliance report within 90 days detailing the resolution of the consumer complaints. The company will also maintain records of customer orders for one year. The Attorney General may have access to these records upon request to monitor the company's business practices.
Scholastic at Home and Grolier will pay $90,000 to the Missouri Merchandising Practices Revolving Fund to reimburse the state for the cost of this investigation and enforcement of the Merchandising Practices Act. Some of the funds will also go toward consumer education and advocacy.
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