Is Facebook facilitating credit card fraud?

Airline Information discusses the prevalence of credit card fraud and suggests that Facebook carries some responsibility.

Airline Information, professionals in airline commercial conferencing and affairs, has published a press release in which the dangers of credit-card fraud are outlined and the alleged involvement of Facebook in criminal activity is presented by Airline Information, who call-on Facebook, the government and consumers to take a stand against such cyber-crime.

It is explained that credit card fraud occurs when hackers steal data or when employees, who are able to access customer banking details, do the same - this practice is particularly prevalent in hotels, restaurants and gas stations. Stolen credit card information is then sold online and according to the CEO of Dutch fraud prevention consultancy, FraudGuard, Jan-Jaap Kramer, "There are numerous pages on Facebook set up by criminal rings to facilitate and share information about credit card fraud. Many of these pages show all credit card details like CVC code, expiry code, the PIN code for online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and personal data of the cardholder including home address, date of birth, social security numbers and more.”

The airline industry is particularly vulnerable when it comes to credit card fraud because stolen details are often used to buy airline tickets, which is why Airline Information is calling on Facebook, government authorities and end-users to stand up against these practices. Kramer goes on to say: “We have asked Facebook to block these pages, but it takes no action. The result is greater fraud losses for consumers and merchants, ruined credit records and misery trying to sort out fraudulent transactions."

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