Turkish carder scores record 332-year jail term

A 26 year-old Turkish carder has received a record 332-year prison sentence for defrauding 54 customers.

Onur Kopçak was charged after he stole and resold customer credit cards to other criminals.

Turkish media report the man received a 135-year sentence for stealing 11 credit cards handed down by the Mersin third Criminal Court.

Kopçak was handed 199 years and seven months in 2013 for stealing 43 credit cards using phishing bank sites, dished out by the Criminal Court of Appeals.

The media reports the man claims innocence but will not appeal the judgment, saying that Turkeys Court of Cassation (Supreme court) will not deliver justice on account of an unspecified chain-of-guilt ruling.

It is likely the largest sentence ever handed down for hacking.


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December death of 24-year-old Kajavia Globe in Detroit remains mystery

DETROIT, MI — Relativesbelieve 24-year-old Kajavia Globe, of Detroit, was killed, but officials arent so sure.

The Wayne County Medical Examiners Office requested toxicology tests following the womans death.She was last seen by relatives Dec. 11.Globes body was found atthe rear of a home at 18551 Fielding in Detroit about 7 pm three days later.

Based on toxicology results, the Medical Examiners Office said Tuesday the cause of death cannot be determined.

No otherinformation was offered. MLive Detroit requested further explanation or the ability to review the public autopsy and toxicology records and is awaiting a response.

Detroit Police Assistant Police Chief Steve Dolunttold WJBK-TV, Channel 2 Newsthere were no visible signs of trauma on Globes body.

Police said Globes Chevy Impala was located abandoned near Chatam and Fenkel in Detroit about 6:30 am Dec. 13.

Investigators feared Globe was in danger after they learned the suspected abductors had used Globes bank cards to withdraw funds.

Bank video showed a person wearing a skeleton mask to cover their face using Globes card.

Anyone with information about the cases is asked to call the Eight Precinct Detective Unit, 313-596-5840.

Information will be updated when it is obtained from the Wayne County Medical Examiners Department or Detroit police.


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Nigerians can finally use their bank cards outside the country again

As oil prices have dropped over the last 12 months, Nigeria has been faced with a major foreign exchange crisis as the resource, its main export, accounts for a majority of its foreign exchange earnings. The Central Bank of Nigeria (CBN) says monthly foreign exchange earnings have dropped by 69% as a result of the fall in oil prices.

While earnings have crashed, the countrys import bill remains high thus leading to a depletion in dollar reserves. To prevent further depletion of its foreign reserves, Nigerias Central Bank imposed strict foreign exchange restrictions aimed at limiting supply. These included blocking debit cards usage abroad and also banning over-the-counter deposits of foreign exchange at local banks. The restrictions have been widely criticized, most recently by IMF boss, Christine Lagarde during a visit to Nigeria last week.

Now, the Central Bank is finally lifting some of the restrictions as Nigerians can now make foreign exchange deposits at local banks and also use bank cards abroad. The restrictions on use of debit cards have made life difficult for Nigerians who holiday abroad as well business owners who need to source foreign exchange.

Lifting the restrictions will do little to close the wide margin between the official exchange rate 199 naira to the one dollar and the parallel market rate of 260 naira as the parallel market continues to thrive. The bank has blamed this on foreign exchange dealers and announced it will stop selling dollars to them, forcing bureau de change operators to source foreign exchange from autonomous sources. The lifting of restrictions should ease the pressures on the market but frustrations remain that the Central Bank is putting off a devaluation of its currency.


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Consumer Loan Delinquencies Jump Slightly in Third Quarter

Consumer delinquencies on closed-end personal and home equity loans, for example, as well as bank cards increased slightly in the third quarter of 2015, according to the American Bankers Association’s latest Consumer Credit Delinquency Bulletin. However, overall  consumer delinquencies still remain close to historical lows.

The increase in closed-end loan delinquencies occurred as growth in the economy slowed in the third quarter, according to a news release from the ABA.

The composite ratio of eight closed-end installment loan categories increased five basis points to 1.41 percent of all the accounts in the third quarter, according to the news release. The third quarter result is still 10 basis points lower than the third quarter 2014 composite ratio and  shows closed-end loan delinquencies are also well below the 15-year average of 2.25 percent.

Delinquencies, defined by the ABA as a late payment that is 30 days or more overdue, increased in six of the 11 individual loan categories tracked in the third quarter.

Closed-end loans:

  • Personal loan delinquencies rose from 1.41 percent to 1.52 percent.
  • Direct auto loan delinquencies rose from 0.72 percent to 0.74 percent.
  • Indirect auto loan delinquencies rose from 1.45 percent to 1.51 percent
  • Mobile home delinquencies rose from 3.55 percent to 3.59 percent.
  • Home equity loan delinquencies rose from 2.90 percent to 2.91 percent.
  • RV loan delinquencies remained at 0.95 percent.
  • Marine loan delinquencies remained at 1.09 percent.
  • Property improvement loan delinquencies fell from 0.91 percent to 0.87 percent.

Open-end loans:

  • Bank card delinquencies rose from 2.52 percent to 2.54 percent.
  • Home equity lines of credit delinquencies fell from 1.34 percent to 1.31 percent.
  • Non-card revolving loan delinquencies fell from 1.80 percent to 1.71 percent.

“The economy remains positive even though its momentum slipped a little in the third quarter,” said ABA’s Chief Economist James Chessen in the news release. “Slower job and household income growth made for fewer improvements in delinquency rates. Fortunately, consumers remained disciplined in managing their debts, which has kept delinquencies close to historical lows.”

Home-related delinquencies continued to decline in the third quarter 2015. Home equity line delinquencies declined three basis points to 1.31 percent of all accounts and property improvement delinquencies declined four basis points to 0.87 percent of all accounts, according to the news release. Home equity loan delinquencies increased slightly to 2.91 percent of all accounts after a 22-basis point decline in the second quarter.

“The steady decline in home-related delinquencies has been a bright spot as they grind their way back to pre-recession levels,” Chessen said in the news release. “We expect this trend to continue as the housing market keeps gaining strength.”

While consumers’ bank card delinquencies increased slightly from 2.52 percent to 2.54 percent of all accounts in the third quarter, they still remain below the 15-year average of 3.72 percent, according to the ABA.

Bank card delinquencies also increased slightly in the second quarter, ACA International previously reported.

Chessen said he expects delinquencies will remain near the historically low levels in the future as the economy is expected to improve.

“A good economy and lower delinquency rates go hand-in-hand, and the [Federal Reserve] is betting on a stronger economy in 2016,” he said. “If the economy remains solid and jobs continue to grow, we would expect delinquency levels to continue hovering near these historic lows.”

Follow ACA on Twitter @ACAIntl and @acacollector or Facebook for news and event updates. ACA’s LinkedIn Group includes news updates, member discussions, event promotions, jobs and more. Visit the group page and request to join today.


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Toronto taxi scam: cabbies swiping bank cards from passengers

The next time you pay bydebit in a taxi, keep a close eye on your card.

Toronto police warn that a group of cab drivers has beenswiping riders bankcards as theypay–and then driving straight to ATM machines to empty bank accounts before victims even realizewhats happened.

Dozens of cab riders have been victimizedacross the city in recent weeks and the crimes are continuing daily, the lead investigator in the case said Friday.

The number ofreports coming into police across the city has escalated quite a bit in recent days,Det. Chris Beattiesaid in an interview with CBC News.

  • Has this happened to you? Send us an e-mail

He said it appears that a small group of drivers iscarrying out the fraud.


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Why Nigerians can’t use their bank debit cards outside the country anymore

*This post has been updated.

The story of how Nigerias then Central Bank governor Sanusi Lamido Sanusi, in August 2009, shook up the local banking establishment is well told. He bailed out five banks and dismissed their chief executives and introduced reforms like capping the duration a bank boss could stay in office to ten years.

But something else happened as a result of his interventionthe centre of gravity of retail banking in Nigeria quietly shifted. The sudden realization that some of Nigerias banks were effectively insolvent triggered a kind of flight to safety. The banks which were untouched by lsquo;Hurricane Sanusi became very safe in the eyes of customers.

The most upwardly mobile and footloose Nigerians bank with names like GTBank, StanbicIBTC, First Bank, Diamond Bank and Access Bank these days. They go on holidays to Dubai, shop in London and take their kids to Disney World in Florida now and again. Unlike, say, the UK where the idea of travel money is cultural, Nigerians over the years have come to rely on their debit cards anytime they are outside Nigeria. The exchange rates are generally decent so as long as you have naira in your linked account,its always more convenient to pay for things in Debenhams with your bank card.

At times it feels like Central Bank is determined to burn down the village in a bid to save it

Theres also the coterie of Nigerians who run a variety of web-based businesses that require them to pay for things like server space and web hosting in Europe or America on an ongoing basis. Many of these people use their debit cards to make payments online.


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Bank cards up by 20 percent

Bank card annuities at Caixa Geral de Depósitos and Novo Banco have seen their cost inflated by 20 percent.


David Bowie Had An Online Bank: How The Star Pushed Tech To Its Limits

David Bowie, whose death isbeing mourned worldwide Monday, had a long-held passion for bringing together technology and music. He wasnt afraid to try new ideas.Among his 1990s forays into online downloads and concert streaming, now considered par for the course for musical artists, Bowie also made some groundbreaking ventures into less conventional areas.

In September 1998,Bowie launched his own ISP. BowieNet, according to the Guardian, was conceived as a proto-social network. There was 5MB of web space to share songs and creations. The pages used new technologies like Adobe Flash (then developed by Macromedia) to display content. Users even got access to concert streaming service Rolling Stone Network.

The star also launched his own online bank in the same decade. BowieBanc came with a years worth of BowieNet service. Fans who banked their money with Bowie were rewarded with checks and bank cards displaying hisimage.

“The demographic of people who listen to David Bowie fits perfectly with people who use the internet,” banking expert Christopher Musto told MTV in January 2000. The service launched at a time when just over 11 million people used online banking. “What’s next? Is the Offspring gonna be the next bank? Hopefully them before Limp Bizkit.”

Bowie also explored tech in ways that seem more familiar today. In September 1999, he became one of the first major artists to release a new album, Hours…, for download over the internet.At the albums launch, the New York Times ran a feature on the growing experiment in downloadable music, noting how easy it was to download the album and start playing. “Just download in Liquid Audio or Microsoft Audio 4.0,” Sue Cummings wrote.

The artist inspired others to experiment with tech. In May 2013, Canadian astronaut Chris Hadfield uploaded a video to YouTube. In the film, Hadfield is seen floating around the International Space Station, performing a cover of Space Oddity on his acoustic guitar.

In true Bowie fashion, celebrities used the latest tech to tweet out their tributes in the early hours of Monday. While music downloads are commonplace today, BowieBanc and BowieNet were short-lived ventures, the latter closing up shop 10 years ago. Nonetheless, they remain emblematic of the artists desire to experiment with technology to push the limits of the music industry.


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Precise Biometrics signs license agreement with Gingytech

STOCKHOLM–(BUSINESS WIRE)–Regulatory News:

Precise Biometrics (STO:PREC) has entered an agreement with Gingy
Technology Co. for licensing of Precise Biometrics’ product for
fingerprint recognition, Precise BioMatch(TM) Mobile.

The license agreement will generate royalty revenue based on sales of
fingerprint sensors from Gingytech that includes Precise BioMatch
Mobile. Royalty revenues are volume dependant and cannot be forecasted
at this point. The agreement includes a limited initial fixed fee for
the right to integrate and use Precise Biometrics’ software and for
support amp; maintenance, which will be recognized starting from the fourth
quarter 2015.

“Gingytech is an innovative company with an interesting hybrid
fingerprint sensor technology. The agreement with Gingytech strengthens
our position as the leading independent supplier of fingerprint software
for mobile devices”, says Håkan Persson, CEO of Precise Biometrics.

“The combination of our hybrid fingerprint sensor technology and Precise
Biometrics’ industry leading fingerprint recognition software enables
high performance fingerprint authentication for smartphones”, says Jason
Wu, CEO at Gingytech.

Precise BioMatchTM Mobile (http://precisebiometrics.com/fingerprint-technology/precise-biomatch-mobile/)
provides easy integration of fingerprint matching functionality for
smartphones and tablets, and is optimized for small touch sensors in
mobile environments through a unique patented hybrid algorithm. The
software offers fast, accurate, and secure verification of the user’s
identity, creating a convenient user experience for consumers when
unlocking their mobile device or authenticating to services, while
delivering enhanced security.

This press release contains information that Precise Biometrics is
required to disclose pursuant to the Swedish Financial Instruments
Trading Act (1991:980). The information was submitted for publication at
13.00 pm CET on January 13, 2016.

ABOUT PRECISE BIOMETRICS

Precise Biometrics is a market-leading provider of solutions that prove
peoples identities through smart cards and fingerprint recognition. The
company´s products can be used for ID, enterprise and bank cards as well
as access to mobile solutions, computers and networks. Precise
Biometrics serves business and government organizations throughout the
world and its products are licensed to close to 160 million users. For
more information, please visit www.precisebiometrics.com

ABOUT GINGYTECH

Established in 2008, Gingytech has been devoted to develop and research
a new innovative fingerprint sensor technology, hybrid fingerprint
sensors. This technology allows fingerprint recognition with wet
fingertips, and detecting fingertip blood oxygen saturation as biopsy
confirmation; moreover it offers a great solution for under glass
placement. For more information, please visit; www.gingytech.com.tw/en/

This information was brought to you by Cision http://news.cision.com


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More Bank Cards Found at Suspects’ Hotel

Six Chinese nationals allegedly involved in the ATM scam escorted by Police to the Nadi Magistrates Court yesterday. Photo: Farisha Ahmed


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