RSS
Twitter
DJs Buy Their Own Music Online With Stolen Credit Cards To Grab Royalties
from the scheming dept
A group of people in the UK have been arrested after they allegedly put their own music on the iTunes Music Store and Amazon, then purchased it with stolen credit-card numbers. Police say they made 19 tracks and put them up in the shops, then spent about $750,000 on the music, grabbing about $330,000 in royalties from the purchases. It's quite the scam, since one difficulty in stealing credit-card numbers is converting them into cash. One way to do this is to sell the numbers themselves; another common way for people to do this is to take a stolen card, then go buy gift cards from a store with it, then sell the cards on the street at a discount. But selling Wal-Mart gift cards and hawking them on the street seems like an awful lot of work, compared to what a criminal with a computer and some music software can do. Of course, it's not too smart to continually buy the same tracks over and over with 1,500 stolen cards...
Carlo Longino is an expert at the Insight Community. To get insight and analysis from Carlo Longino and other experts on challenges your company faces, click here.
