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. The criminals claim to have access to account numbers and the ability to submit a large batch settlement upload to occur over a weekend. Visa suspects that this scheme may be linked to a consortium of online merchants that have been trying to secure processing arrangements after being shut down at several acquirers across many geographies. It’s unclear why banks wouldnt already be looking for unusual settlement activity and conducting daily monitoring.”]
Source: https://krebsonsecurity.com/2010/05/visa-warns-of-fraud-attack-from-criminal-group/