Credit Card Crooks Like to Shop at Best Buy, Target, Amazon
Chainsaws, Rogaine very popular; online anonymity make it easy.
Feb. 26, 2010 — -- Chainsaws, Rogaine and X-Box consoles: these are a few of thieves' favorite things. So don't be too surprised if you get a phone call from your credit card company asking if you've suddenly gone bald.
Credit card fraud is on the rise, and organized crime rings have figured out many ways to steal your credit card and take it on a shopping spree at national chains such as Best Buy and Target. Most of the time, they're not shopping for themselves. Instead, they're looking for hot brands and popular electronics that will easily resell on the Internet or at street stands.
"The dumbest of criminals will buy a cell phone for themselves," says Joe LaRocca, senior advisor for asset protection at the National Retail Federation. "Most of them want merchandise that can be sold for a profit."
Growing Problem
Criminals charged $15 billion to stolen credit card accounts in 2008, up from $12 billion the year before, according to California-based financial security consultants Javelin Strategy & Research.
Other items on the list of credit card thieves' favorite picks, according to the NRF:
Add to that list big-ticket electronics such as televisions, stereos; pricey jewelry and watches; and gift cards which can be loaded up and resold without leaving a paper trail.
Thieves also have some favorite shopping outlets. Sources were reluctant to give names on the record, worried that they might be extending an invitation for more thieves to target those stores.
However, they agree that large national chains, known for their wide selection of goods and the anonymity they offer shoppers, are particularly popular.
Many large chains don't check ID to verify the cardholder's identity, and checking signatures rarely leads to a catch, since signatures can be easily forged.
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