Archive for the ‘credit card fraud’ Category

Pilot project demos credit cards with shifting CVV codes to stop fraud

December 28th, 2018

Idemia

US-based PNC Bank is in the middle of a pilot project that aims to test out credit cards with constantly changing card verification values (or CVVs) to reduce online credit card fraud. The dynamic CVV is displayed on the back of such a card in e-ink, and changes according to an algorithm supplied by Visa.

Credit card fraud has long been a problem in the US. To stop thieves from re-using credit card numbers in brick-and-mortar stores, the US has been moving to chip-based credit and debit cards, which create a unique code for each transaction (although this transition to chip cards has been less successful than was hoped). But online credit card fraud is another beast. Once a fraudster has stolen a credit card number, they often can use the static number to make online purchases without being thwarted by chip complications.

Read 6 remaining paragraphs | Comments

Posted in Biz & IT, credit card, credit card fraud, EMV, Tech | Comments (0)

MasterCard Wants to Verify by Selfies and Fingerprints! The Ripple Effects of Biometric Data?

September 19th, 2016

We often take daily conveniences for granted, and the credit card is no exception. These pieces of plastic allow us to set up reoccurring payments and buy items on any spur-of-the-moment whim. But with all this convenience comes risk. Cybercriminals constantly seek access to our money, and financial institutions combat them with ever-evolving safety features. In the latest news, MasterCard plans on using security measures based on bodily data, such as photo-recognition and fingerprint identification.

These plans have actually been in the works for quite some time. MasterCard showcased their newest technology at this year’s Mobile World Congress event. Only recently however, the Wall Street Journal has reported a release is weeks away—which means plenty of consumers may, for the first time, be introduced to using their body as a PIN.

Known as biometric security, the use of physical features may seem like a highly secure option. After all, each person’s body is unique. Anyone can type a combination of characters on a keyboard or number-pad, right? But in reality, things just aren’t that simple. Aside from the benefits, we should all be aware of the safety concerns that come with biometric features.

Many cautionary tales already exist to alert consumers, ones which may seem out of a science fiction movie. Take the story of how the German Defense Minister’s fingerprints were copied: a malicious individual found a high-resolution image of her online and simply zoomed in on her hands. In another case, researchers used an inkjet printer and conductive ink to print imitations of fingerprints accurate enough to unlock phones. Cybersecurity experts even scanned social media accounts, such as Facebook, for images of volunteers’ faces to make virtual reality replicas.

Among these stories, there’s a commonality. The point is: most people have photos and other media publicly accessible online, and advanced methods can replicate that bodily data.

Let’s be clear: this isn’t a reason to write off biometric security. Many benefits still exist to the technology, and shocking stories are mainly from researchers or cybercriminals focused in on one specific, unlucky victim. Very few rogues will make the effort to duplicate a random person’s fingerprint or face. What such vulnerabilities do highlight, however, is the necessity of pairing biometric security with additional lines of defense. Think about it, do you want your safety to be solely dependent on data easily seen by googling or browsing your Facebook page?

One great way to enhance body-detection features is multi-factor authentication. It simply means requiring multiple inputs, for layered security. Essentially, in addition to scanning your thumbprint, you might also need to type a password or PIN. After a camera detects your face, you might also have to say a password. These examples illustrate a compelling point. Few villains will be able to, or even try to, obtain all of this data. A small burden to your convenience can translate into major barriers for thieves.

Ultimately, MasterCard’s upcoming features are just the tip of the iceberg. Companies will be adopting more and more biometric security abilities in the near future. As people use their bodies as passwords, taking the right precautions can make all the difference. At the end of the day, biometric security can either make us more secure or more vulnerable. The power to decide lies in users’ own hands.

So, take three measures to protect yourself with biometric security:

  • Multifactor authentication is always safer! Whenever you can, change the security settings of a device or application to require more than one input. Keep in mind that this is a two-way street. If your password gets leaked somehow, requiring a fingerprint can make it difficult for crooks to crack into your account. The more barriers in the way, the better.
  • Reduce your digital footprint. The less personal data you have online, the safer you are. Do you really need to disclose information on your health on an exercise forum? Should everyone be able to browse your vacation photos? Enable privacy settings, and be careful what you share.
  • Get a secure, comprehensive solution. Not all technology is of the same quality. If you’re interested in biometric logins, use a service that you can trust. Intel Security’s True Key is highly secure, and lets you to enable multi-factor and biometric authentication for any account.

And of course, stay on top of the latest consumer and mobile security threats by following me and @IntelSec_Home on Twitter, and Like us on Facebook.

gary

The post MasterCard Wants to Verify by Selfies and Fingerprints! The Ripple Effects of Biometric Data? appeared first on McAfee.

Posted in biometric security, consumer, Consumer Threat Notices, credit card fraud | Comments (0)

Russian Lawmaker’s Son Convicted of Stealing 2.9 Million Credit Card Numbers

August 29th, 2016

The son of a prominent Russian lawmaker has been found guilty in the United States of running a hacking scheme that stole and sold 2.9 million US credit card numbers using Point-of-Sale (POS) malware, costing financial institutions more than $169 Million.

Roman Seleznev, 32, the son of Russian Parliament member Valery Seleznev, was arrested in 2014 while attempting to board a flight in the

Posted in ATM skimming, credit card, credit card fraud, credit card numbers, credit card security, hacking credit cards, Russian hackers | Comments (0)

Ukrainian Hacker Admits Stealing Corporate Press Releases for $30 Million Profit

May 17th, 2016

A 28-year-old Ukrainian hacker has pleaded guilty in the United States to stealing unpublished news releases and using that non-public information in illegal trading to generate more than $30 Million (£20.8 Million) in illicit profits.

Vadym Iermolovych, 28, admitted Monday that he worked with two other Ukrainian hackers to hack into computer networks at PR Newswire, Marketwired and Business

Posted in Computer hacking, credit card fraud, Cyber Crime, hacker arrested, hacking news, press release, Ukrainian hacker | Comments (0)

This $10 Device Can Guess and Steal Your Next Credit Card Number before You’ve Received It

November 25th, 2015

Imagine you have lost your credit card and applied for a fresh credit card from your bank. What if some criminal is using your new credit card before you have even received it?

Yes, it’s possible at least with this $10 device.

Hardware hacker Samy Kamkar has built a $10 device that can predict and store hundreds of American Express credit card numbers, allowing anyone to use them for

Posted in Chip-and-PIN, Credit Card Cloning, credit card fraud, credit card hacking, hack credit card, hacking news, Samy Kamkar, Secure Payment Cards | Comments (0)

How Hackers Can Hack Your Chip-and-PIN Credit Cards

October 21st, 2015

October 1, 2015, was the end of the deadline for U.S. citizens to switch to Chip-enabled Credit Cards for making the transactions through swipe cards safer.

Now, a group of French forensics researchers have inspected a real-world case in which criminals played smart in such a way that they did a seamless chip-switching trick with a slip of plastic that it was identical to a normal credit

Posted in Chip-and-PIN, credit card fraud, credit card hacking, EMV chip cards, hack credit card, hacking news, identity theft, man-in-the-middle attack, Point-of-sale system | Comments (0)

How to Freeze Credit Report To Protect Yourself Against Identity Theft

October 3rd, 2015

If your Social Security number gets hacked in any data breaches, including recently hacked T-Mobile, then there’s a way to prevent hackers from misusing your identity (i.e. identity theft).

The solution here is that you can institute a security freeze at each of the three credit bureaus, Equifax, Experian, or TransUnion.

Once frozen, nobody will be allowed to access your credit report,

Posted in credit card fraud, credit card hacking, credit score, Cyber Attack, Cyber Crime, data breach, data hack, Freeze Credit Report, hacking news, identity theft, online fraud, social security number | Comments (0)

Chip-and-PIN Credit Cards and The Deadline: Here’s What You need To Know

October 1st, 2015

October 1 Liability shift ENDS!

Today, 1st October 2015, is the deadline for US-based Banks and Retailers to roll out Chip-embedded Credit Cards (powered by EVM Technology) to customers that will make transactions more secure.

EVM Technology stands for Europay, MasterCard and Visa — a global standard for Payment Cards equipped with Chips used to authenticate chip card transactions.

<!

Posted in Chip-and-PIN, Credit Card Cloning, credit card fraud, credit card hacking, EVM Cards, hacking debit card, hacking news, online fraud | Comments (0)

Web.com Hacked! Credit Card information of 93,000 Customers Compromised

August 20th, 2015

Web.com, a Florida-based web hosting company with up to 3.3 Million customers, has suffered a data breach and may have compromised personal information and credit card data belonging to 93,000 of its clients.
The company on Tuesday confirmed that some unknown hackers had breached one of its computer systems on August 13, 2015, and accessed personal information of nearly 93,000 customers.
Web.com

Posted in credit card fraud, customer data leaked, data breach, Privacy Breach, web.com hacked | Comments (0)

Let’s Take a Selfie to Shop Online With MasterCard

July 3rd, 2015

Difficulty in remembering complicated Passwords? Forget Passwords and Fingerprints now – and get ready to authenticate your online purchases with your SELFIES.

MasterCard is experimenting a new app that would let you make online purchases by taking a selfie rather than typing a password, moving a step forward in the mobile payments evolution.

This experimental ID Check security system

Posted in credit card, credit card fraud, hacking credit cards, MasterCard, mastercard exchange rate, mastercard password, MasterCard selfie, Secure Payment Cards | Comments (0)