Credit Cards in the News: September 18-25, 2015

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Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet so you can read what matters the most and not have to worry about all the other stuff. Here are the highlights for September 18-25, 2015.

Department of Defense Takes a Closer Look at Credit Card Charges

Last year, troops and Department of Defense civilians accrued more than $1 million in expenses on their government travel credit cards at casinos and strip clubs. On Wednesday, the Department of Defense Inspector announced a follow-up probe into its previous investigation. The new probe will seek to determine whether cardholders who used the government travel cards for personal use ultimately sought or received reimbursement. The audit may last several months and the published report will likely not appear until next year.  Read more…

Citi ThankYou Cardholders Can Now Transfer Points to Virgin America

Citi announced eligible US cardmembers can now transfer an unlimited number of earned ThankYou Points to Virgin America Elevate® points at a rate of two-to-one. This is great news for Citi cardholders as they will now have even more options when redeeming their points. To add to the deal, cardholders have until October 21, 2015 at 11:59pm EST to receive 25% bonus Elevate points when they transfer a minimum of 1,000 ThankYou Points. Read more…

New ATM Malware Helps Hackers Dispense Cash on Demand

The new chip-cards may not be as safe as consumers hope due to newly implanted software on ATM machines worldwide. Hackers based in Eastern Europe appear to be behind GreenDispenser, a strain of malware that enables a hacker to trick a machine into spitting out cash by entering a special PIN number. With this alarming new method, hackers attack financial institutions directly with less traceability.  An attacker needs to physically install the software on an ATM; however, the internal workings of the machine can all be controlled via an app. Read more…

Starbucks Flaws May Leave Your Credit Card Info Exposed to Hackers

Hackers may be making use of critical flaws in Starbucks online store accounts.  Attackers can hijack customers online coffee accounts, drain the store value of the cards, and then use Starbucks’ auto-reload function to hack consumers’ associated debit and credit cards. There appears to be three critical flaws that allow hackers to gain access to one’s account, all in one click.  In one example, an attacker could easily send a malicious link to force a victim to change their user’s account information and password. Read more…

Citigroup Closes Boston Branches

As Citigroup continues to narrow its retail focus, the bank announced it will close six retail outlets in Boston and an additional eleven in the surrounding areas in January. This announcement comes just months after describing the city as a key market. A Citigroup spokesman said the company will continue to do branch banking in New York, Los Angeles, Miami, Chicago, Washington, and San Francisco. Citigroup has more than 2.5 million credit card customers and 40,000 mortgage borrowers in Massachusetts. Read more…

 

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