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A newspaper vendor from Buenos Aires, Argentina,has been captured for credit card fraud with thousands of them. News and police claimed that he developed an al

• gus_massa 4y ago
  Autotranslation: https://www-lanacion-com-ar.translate.goog/seguridad/falsetti-el-estafador-el-canillita-que-descubrio-el-algoritmo-para-crear-tarjetas-de-credito-y-nid20052022/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp https://www-lanacion-com-ar.translate.goog/seguridad/falsett... I read it this morning and was very surprised. Is this just some congruence modulo a big number? Is this check well known and the police/newspaper is overhyping then discovery? (If it's so secret and powerful, why are they publishing a photo of the method?)
  • lstodd 4y ago
    It's been known since 90s for plain ccns, and, well, about two years after CVC got phased in they were also broken. Besides once you submit both somewhere, you're potentially toast. 2 factor auth without, or better with disposable CC numbers is the only solution. It's just that AR only now caught up to the usual fraud level.
    • TedDoesntTalk 4y ago
      Originally CVCs were intended to prove that you had physical possession of the card (before chips and NFC). Now it is required everywhere for every purchase.
      • Nursie 4y ago
        > Now it is required everywhere for every purchase. That very much breaks the rules, and I can't say I've ever had to use it outside of customer-not-present purchases, in around 30 countries I've used cards in. Where are you that this happens? Is this something that people are doing when processing magnetic stripe transactions in places where that's still supported?
        • CryptoBanker 4y ago
          It’s required for almost all online transactions in the United States. Amazon is one of the notable exceptions
          • Nursie 4y ago
            Online, sure. That’s the whole point of it. The post I replied to implied it went further than that.
            • TedDoesntTalk 4y ago
              I suppose you are right now that i think about it more closely. If I’m present for the transaction and using the card, I’m using chip or NFC, so no one bothers to ask for the CVC. They know I have physical possession of the card and that it’s not a fake because NFC and chips are too hard to fake?
              • Nursie 4y ago
                Basically yes, but I still find it unusual (having worked in the industry) if you were ever asked for it in a customer-present situation, because the whole point was that it was for not-present situations. But then I find many things about payments unusual, like the longevity of mag-swipe in the US in the face of much better tech… I’m happy not to really be in that world any more :)
                • TedDoesntTalk 4y ago
  • ankaAr 4y ago
    i dont think it is super secret stuff. I was thinking about the luhn algorithm since i read the article today, but the real story is (could be) that the guy is just a newspaper vendor and he do that by hand. If that is true.., well, chapeau.., bad thing is that the guy was stealing, but is impresive if he never read about the algorithm. the other funny part is his last name...