HDTV/3D TV News
Customers of the online shopping site Cotton Traders have had their details stolen when hackers struck earlier on in the year.
Hackers broke into the website and managed to steal customers’ credit card details and addresses, which would have made it very easy for the victims to have their identities stolen.
However having acted fast the company alerted all of their affected customers and they were able to cancel the credit cards before any damage had been done.
Victims of credit card fraud will virtually always get the money back, it is only if they have been careless that problems occur, but last year nearly £300 million worth of fraud which involved internet, mail order and phone took place.
This report is not entirely correct: Cotton Traders did NOT notify their customers, they notified Visa and card issuers. While some cards may have been cancelled by some issuers, this was not by any means a universal practice. Card details were encrypted, but it is significant that Cotton Traders have subsequently moved to increase site security and level of encryption.