Terrorist and Credit Card Co.s, co-dependent
By Gerald, Internet Anthropologist Think Tank
Dec 28, 2008
This co-dependency between Terrorist and Credit Card
companys is an extension of the criminal activities
the Credit Card companies are engaged in.
The credit card cos. have enabled terrorist to steal
Billions of dollars from Americans because the Credit
card make a profit from Id theft, and have engaged in
activities to make their actions legal.
First they are able to charge Usury interest rates
by incorporating in states that have no consumer
protection laws.
Those states could loose Fed dollars for not having any
consumer protection laws if Congress so desired.
Id theft occurs every 4 seconds.
By incorporating in states without consumer protection laws
they are able to ignore other states with consumer protection laws
where they operate because the state of incorporation ,
their laws govern , or the lack of protection laws leave the
rest of us open to Credit card co fraud.
Providian Credit card Co is a good example,
they were caught throwing away payments
from credit card holders so they could invoke
huge penalitys and late charges.
But there were no prison terms of criminal charges
just a 400 million dollar fine as I remember.
But how do they make a profit off Id theft?
If your Id is stolen they loose don't they?
No, the credit card companies are engaged in
multiple frauds on many levels.
Starting with issuing credit cards to those
they KNOW WILL DEFAULT.
The first SCAM is the 180 day rule
After 180 days they have to write the credit cards off.
A reader send in evidence of how they make a profit.
First they use the 180 days to add as many bogus and
fraudulent charges to the account as possible.
The first thing they do is raise the interest rate to the
maximum, 24 to 33% in most cases.
And this and the added charges in the case I have seen from
a reader increased the bill from $800 to $2,300.
When they write the credit card debit off they sell it to collection agencys.
They may sell a $2,300 account for $1,300 to collection agencys.
The collection agencys are happy to buy the bad debt because
of the new bankruptcy laws all the credit agencys to pursue
the victims past the grave, and even attach the estate.
In the instant case the collection agencys get $2,300
cash plus interest for a $1,300 investment.
And the victim gets the legal system on their backs
until and past death.
So the credit card company just turned $800 worth
of charges into $1,300 sale, $500 profit on bad credit.
And the collection agencys can pursue the victim for $2,300
even attaching their tax returns and homes.
But thats not the worst of it.
The guys running the collection agencys are the guys
that used to run boiler rooms, telephone fraud.
There is no screening for the collectors at the
collection agencys.
And collection guys get access to your credit information
as soon as you talk to them, SS #, DOB,
everything they need to steal your ID AGAIN.
And the account for collection can be resold 5 or 10 times.
So you have 5 or 10 collection agencys each
taking a shot at the victim over years of time.
The key method of collection is ABUSE,
THREATING CRIMINAL action,
calling your neighbors of other family
members or calling you at work.
Some of the scams the collection agencys
run are the partial payment.
They get you to pay 50% and say they
will drop the balance.
What they actually do is re-sell the
unpaid balance, and wait 5 or 6 years
and they turn the balance back over the the
attorneys for COLLECTION AGAIN.
The credit card cos. don't want to stop Id
theft, it is a very profitable venue.
Could they stop credit card fraud, or even Id theft.
Yes, beyond a doubt, they know everything about you.
Your spending habits, where you work and live,
where and when you travel.
In fact some companys have offered Id protection
with a million dollar protection policy.
Using the same data the credit card companies and
credit reporting agencys have, in fact those that
offer the Id protection service get the information
from the credit reporting agencys and credit card cos.
to protect your Id.
I want to be clear about this.The Id theft protection companies, get the information
to protect your Id FROM the credit card cos. and
credit reporting agencys. They spot the Id theft
using the info the credit card cos, and credit reporting
agenceys collect.
This means the credit card cos and credit reporting
agencys have the info to stop Id Theft and they do
NOTHING. It would cut their profits.
The credit reporting agencys make billions of dollars
selling YOUR information to credit card companies
and don't spend a dollar to protect those they report on.
This arrogant ignoring of consumer protection is
what allows the
"shadow facilitators," in the criminal cyber
underworld and terrorist to bilk billions of US dollars out of American
consumers, and finance their criminal and terrorist activities.
So how do the terrorist fit into this criminal paradigm?From
Counter terrorism Blog:Credit card information theft and fraud has increased at a steady pace over the last five years. It is an area of vulnerability that has been increasingly exploited. As the problem continues to evolve from physical theft to more widespread use of the internet and technology to facilitate fraudulent activity, the trend will continue to track upward. Alarmingly, criminals do not have a monopoly on credit card information theft and fraud. As exemplified in the above two cases, credit card exploitation and fraud has become a growth industry for terrorists. Although there is no empirical statistical data establishing the nexus between credit card exploitation and terrorism, there are ample anecdotal case studies demonstrating how extensively terrorists rely on credit card information in furtherance of their heinous activities.
Credit cards are extremely vulnerable to fraud. They are used extensively by terrorists. There has been a proliferation of hacking and theft of credit card information. The internet not only serves as a learning tool for terrorists but also functions as a mechanism to steal credit card information through hacking, phishing and other means. In many instances, when terrorist operatives are apprehended, they have multiple identifications and credit cards in a variety of names in their possession.
Terrorists use credit cards for two purposes. They use credit cards as a funding mechanism through credit card fraud. Terrorists have raised many millions of dollars through various schemes. Credit cards are also used by terrorists as an operational mechanism. They use credit cards to support their operational activities.
xxxxxxxxxxxxxxxxxxxxx
So the Credit Card Companies are making a profit off the terrorist funding
operations thru credit card fraud and Id theft.
The credit card companies make a nice profit, the terrorist
fund attacks and killing American troops and the consumer
gets stuck with a bill that follows them beyond the grave.
Credit card companies and terrorist are co dependent.
They enable each other, and credit card companies profit
off suicide attacks and killing American Troops.
The credit card companies have turned into legal
criminal enterprises thru the use of lobbyists and buying
off Congressmen and Senators.
Enabling Credit card fraud, usury, and Id theft.
Whether they want to admit it or not the regulators;
Credit card Companys and Credit reporting agencys
have American troops Blood on their hands.
May God Damn them.
Gerald
Series 7 and 13
Internet Anthropologist
Update: other fraud:
Reader closed his bank account, asking to withdraw
all funds.
The bank left 1 cent behind and then fined him $50
for his account falling under the MIN balance,
and turned it over to the collection agencys.
.
Labels: co-dependant, Credit card fraud, Terrorist and Credit Card Co.s
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