CreditCards.com pinned down an identity thief who was convicted of credit card fraud and identity theft in 2004. “He faced eight years in prison, but under a plea deal he agreed to community service and to pay back more than $200,000 in restitution. He also worked for the U.S. Secret Service, helping to infiltrate the online underground and training agents in the latest fraud techniques. His help led to the arrests of five to 15 people over two years.”
He’d buy stolen credit card data online and use it to create fake credit cards. After making fake IDs to match, he’d go into stores and buy expensive items like laptops, which he then sold on eBay.
Many people don’t realize that after credit card information has been skimmed or compromised in a data breach, it is often sold to identity thieves for pennies per card.
Hackers can copy the stolen…