According to the company, in 2007, there was a total of $3.2 billion in total credit card fraud in the U.S., with $1.9 billion taking place online. Because of online fraud Miri Systems believes that its credit card technology will become as standard as traditional static cards are currently.

When asked about the possibility of hackers breaching the Miri Card the company said," Eventually, hackers will figure out everything. But, the idea is staying ahead. With Miri, each encoding algorithm is unique to the cardholder and the only way to compromise the Miri card is to steal the encoding device."

"If the device is stolen, the encoding algorithm can immediately be changed. So the hacker can’t land the card holder’s actual number. Consequently, there is little incentive for the hacker to try to hack it."

On the issue of other major security banking breaches occurring online the company said," For the most part, financial institutions won’t reveal the breaches essentially because they don’t have a real solution.  As long as the static credit card number is used in purchase transactions, we will see more breaches."

"The problem is the technology: the magnetic strip on the back of the card is a decades old technology. Actually, the magnetic strip facilitates fraud but is not the primary cause of fraud."

Miri says it believes widespread adoption of this type of technology will happen soon. It said it is currently in talks with major bank issuers and a major credit card company to offer its credit card technology.

Currently its technology is available for Internet and telephone transactions. The company says it expects that cell phone use at the point of sale will be the next step in development.
 

But it’s not just revenge fraud, ConfidentialAccess specializes in several types of fraud it claims to be legal. Though their site, operated by Britons from Hong Kong servers, has gone from confidential access to inaccessible access, a copy of the company’s about-page can be found on AboutUs.org.

From that:

Today CA can show you how to build a perfectly legal new credit file, we can give you novelty employment or a pretend job which all checks out; what about a set of fully certified trading accounts. Maybe you need to show proof of funds with a recognised bank we can lodge up to £250 million on paper; last but not least we can produce any legal duplicate document you can think of; we can make the document appear in its original form or we can amend any details you wish including transactional data. We can hear you saying "Are You Legal" The answer is of course. Confidential Access and CA Media Group contracted both UK and US Corporate Lawyers to draft a legal foundation we could trade on. Our given advice was to move our infrastructure offshore to a neutral jurisdiction in order to offer true privacy and protection to our ever growing list of international clients.

They also claim to have "some morals" and do not support international terrorism. However, the Sunday Times in England was able to obtain fake a fake (and convincing) British driver’s license with the picture of one of the FBI’s most-wanted terrorists.

The cost of a fake terrorist driver’s license? About $600.

They can also forge pay slips or sabotage a PayPal account.

The above AboutUs.org source lists a PO Box in Arizona, as well as a phone number, which is actually a number for an anonymous hosting company in Arizona.