Argentine police arrested a middle-aged man selling newspapers in the capital Buenos Aires before accusing him of hacking dozens of credit cards to get money for spending.
When the anti-crime agencies in Argentina received information that hundreds of unauthorized transactions by credit card holders had been made, they thought it was an organization with many hackers. However, the truth surprised the authorities. Because the perpetrator is a 56-year-old newspaper seller named Fernando Falsetti in the town of Villa Madero in Buenos Aires.
What made the investigation even more surprising was that when they searched Falsetti’s home, they found a notebook that contained algorithms that helped the newspaper man to find out the CVC number (verification code). ) of dozens of credit card holders.
According to experts, if cardholders reveal their credit card numbers and CVV/CVC codes, the risk of card information being stolen and fraudulent transactions arising is great.
Specifically, during the day, Falsetti stood at the newsstand, but when not at work, he would bury his head in researching ways to hack credit cards. Investigators discovered that he had found the CVC codes of many credit cards issued by a bank in Argentina through analysis of card numbers and expiration dates.
Even security experts were surprised to find 30 pages of algorithms developed and recorded by Mr. Falsetti in an old notebook.
Mr. Falsetti’s intelligence led investigators to suspect that he was more than just a newspaper seller.
As a result, according to Clarin, Mr. Falsetti is a well-trained computer engineer specializing in systems and telecommunications but has changed careers. Even as a computer engineer, the fact that Mr. Falsetti has developed algorithms to hack credit cards is extremely impressive.
So why was Mr. Falsetti’s fraud discovered? In fact, Mr. Falsetti is considered a genius at analyzing complex numbers to hack credit cards, but he is not good at hiding illegal transactions.
After hacking the victims’ credit cards, Mr. Falsetti used the cardholders’ money to pay for satellite TV subscriptions for his own newsstand. He thinks the amount is too small, and credit cardholders won’t notice or report it to the police.
While small sums of money might go unnoticed by credit card holders, hundreds of transactions were directed at a satellite TV company they had never used and wanted to cancel. Suspected of fraud, the satellite TV company itself filed an application to the police.
Mr. Falsetti also made no move to hide the crime, because he simply used the cardholder’s information to buy services for the newsstand, while keeping all the transaction receipts in the house. Investigators also found the bill number in Mr. Falsetti’s home.
Mr. Falsetti has been released, but the investigation into the hacking of dozens of his credit cards is still ongoing. Chances are he could spend several years in prison.
According to Argentinian media, the amount that Mr. Falsetti used after hacking the credit cards of the victims was 1 million pesos ($8,260).
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