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Table of Contents

Lead Story

Fine-tune for year-end bonanza

News

Industry Update

Industry Update

Bill Me Later welcomes eBay – will you?

Duel in the Big Apple

Regulation under the radar

European interchange battle escalates

Gift card hijacker gets 10 years

Features

Higher risks mean higher rewards

Ultimate distribution with Ultimate Game Card

ISOMetrics:
The indomitable holiday spirit

Industry Leader

Diana Mehochko –
Returning to industry roots

Views

Making cents of financial turbulence

Patti Murphy
The Takoma Group

Positively cash advance

Mike Landau
MaxAdvance

Education

Street SmartsSM:
Tough times pass, tough agents last

Jason Felts
Advanced Merchant Services

Drip for success

Nancy Drexler
SignaPay Ltd.

POS goes hybrid

Dale S. Laszig
DSL Direct LLC

Get organized - Part 1

Vicki M. Daughdrill
Small Business Resources LLC

The economy and your portfolio

Lane Gordon
MerchantPortfolios.com

Company Profile

Veratad Technologies LLC

New Products

Manage merchants with inventive POS

InventTrak v3.0
InvenTrak Point of Sale Products

Ignite revenue with SMS spark

SMS Gift Card Portal
SparkBase and Inspiron Logistics Corp.

Inspiration

Hi, um ... what's your name again?

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

October 27, 2008  •  Issue 08:10:02

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Gift card hijacker gets 10 years

Timothy Truong, 43, pled guilty in November 2007 to grand theft, admitting he had cloned gift cards to hijack retail store gift card accounts. On Oct. 15, 2008, Truong was sentenced in a Sacramento, Calif., federal court to a maximum of 10 years.

Since 1992, Truong has been accumulating convictions for gift card hijackings in Nevada, Nebraska, Pennsylvania, Georgia and Utah, according to Assistant U.S. Attorney Matthew Segal.

At the time of his arrest in the Sacramento case, Truong was also facing additional charges related to gift card fraud in New Jersey, Segal said.

Madness to the method

Truong shoplifted cards from gift malls in retail stores.

He then captured the card and personal identification numbers on a skimmer - a small electronic device used to swipe and store victims' card numbers - and downloaded the card information onto a computer to manufacture duplicate cards. Truong replaced the cards in the same gift malls after cloning them.

Truong hacked into stores' activation files and, with the stolen data and duplicate cards, accessed account balances post-activation and spent the cards' balances, leaving the consumers who had purchased the tampered cards with no funds remaining on the cards.

Gift mall on wheels

In Truong's abandoned vehicle, officers found more than 3,800 gift cards for retail outlets including Safeway Inc., Lowe's Companies Inc., Borders Group and Wal-Mart Stores Inc.

Authorities also confiscated two laptop computers, an electronic card reader, a card printer, acetone, maps marked with the locations of all the stores from which he stole cards, 4,000 gift card numbers, recently purchased merchandise - and $7,000 in cash.

Truong was reportedly known to retail security personnel. In 2006, police were called in Yuba City, Calif., when Truong was spotted in that city's Wal-Mart.

He was arrested and has been in custody since then.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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