

Automation and Disruption in Stolen Payment Card Markets [pdf] - jcr
http://weis2014.econinfosec.org/papers/PeacockFriedman-WEIS2014.pdf

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samaparicio
I see this type of refining activity on our payment gateway logs. I can only
imagine what it looks like at a major online retailer or SAAS service. It just
goes to show how fundamentally broken is payment card processing at the
moment, and how ripe it is for disruption.

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jcr
My guess is you're talking about the logs from your business site, Ringio.com.
The "refining" problem (testing stolen credit cards) is much worse for sites
that generally receive small, one-off payments. One of the hardest hit groups
is non-profit organizations who accept/solicit donations. They regularly get
clobbered by charge-backs and other issues.

