Brian Krebs reports:
Visa is warning financial institutions that it has received reliable intelligence that an organized criminal group plans to attempt to move large amounts of fraudulent payments through a merchant account in Eastern Europe, possibly as soon as this weekend.
In an alert sent to banks, card issuers and processors this week, Visa said it “has received intelligence from a third-party entity indicating that a criminal group has plans to execute “a large batch settlement fraud scheme.”
Read the alert and more on KrebsOnSecurity.