On The Web

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Risk & Fraud

Riskified tackles credit card fraud

August 27 2018

• in
• Card fraud

“Riskified founders CEO Eido Gal and CTO Assaf Feldman told “Globes” that in a world in which the scale of credit card fraud is growing at a dizzying pace, e-commerce websites are often forced to reject credit cards because of the slightest suspicion, even if the customer is as pure as the driven snow. They […]

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Risk & Fraud

Credit card skimmers now need to fear the Reaper

August 16 2018

• in
• Card fraud

“At the USENIX Security Symposium here today, University of Florida researcher Nolen Scaife presented the results of a research project he undertook with Christian Peeters and Patrick Traynor to effectively detect some types of “skimmers”—maliciously placed devices designed to surreptitiously capture the magnetic stripe data and PIN codes of debit and credit cards as they are inserted into automated teller […]

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Risk & Fraud

From Spear Phishing to POS Malware, a Security Expert Lays Out His Six Most Worrisome Threats

August 10 2018

• in
• Card fraud
• Payments fraud

“Malicious attacks on payments systems come in a bewildering array of shapes and sizes, making it a nettlesome problem figuring out which types of attack require the most defensive resources. Yet, the stakes could be highest in the United States, where the average cost per breach, at $225, is one of the highest in the […]

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Risk & Fraud

The Wild Inner Workings Of A Billion-Dollar Hacking Group

August 2 2018

• in
• Card fraud

“The Fin7 hacking group has leeched, by at least one estimate, well over a billion dollars from companies around the world. In the United States alone, Fin7 has stolen more than 15 million credit card numbers from over 3,600 business locations. On Wednesday, the Justice Department revealed that it had arrested three alleged members of the group—and even more […]

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Risk & Fraud

British Airways site had credit card skimming code injected

September 11 2018

• in
• Card fraud

“The 22 lines of code are targeted to export the data entered in the BA website’s payment form to the malicious server when the “submit” button was clicked by a customer, with the data being sent as a JSON object. As a result, the transaction would go through for the customer without any errors, while […]

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Risk & Fraud

Fallback Fraud Falls as Card Issuers Ramp Up Their Monitoring

November 12 2018

• in
• Card fraud

“Fallback fraud is an activity that typically comes and goes fairly quickly after a nation converts to EMV chip card payments, but it has stuck around longer than usual in the United States, ACG said. But issuers are getting smarter about identifying and thwarting it, according to Goldman. “They’re looking at dollar amounts, they’re looking at velocity […]

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Risk & Fraud

Mastercard Sees Other Banks Ditching Credit Card Numbers Like Apple Did

March 26 2019

• in
• Card fraud

“First it was the signatures. Now the biggest U.S. banks could be looking to get rid of card numbers, too.    This week, Apple Inc. introduced the Mastercard Inc.-branded Apple Card, which won’t have a number on the physical card as a way to improve security in case a customer loses it. That could encourage […]

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Risk & Fraud

New Breed of Fuel Pump Skimmer Uses SMS and Bluetooth — Krebs on Security

February 21 2019

• in
• Card fraud

“Fraud investigators say they’ve uncovered a sophisticated new breed of credit card skimmers being installed at gas pumps that is capable of relaying stolen card data via mobile text message, thereby enabling fraudsters to collect it from anywhere in the world. One interesting component of this criminal innovation is a small cellphone and Bluetooth-enabled device […]

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Risk & Fraud

Why aren’t chip credit cards stopping “card present” fraud in the US?

November 15 2018

• in
• Card fraud
• EMV

“While nearly everyone in the US has had their old magnetic stripe cards replaced with new cards that have a chip, it’s not uncommon to try to pay for something at a brick-and-mortar store with a chip card, only to be asked to swipe the magnetic stripe on the back. That puts a customer at […]

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Risk & Fraud

Data: E-Retail Hacks More Lucrative Than Ever — Krebs on Security

May 1 2019

• in
• Card fraud

“For many years and until quite recently, credit card data stolen from online merchants has been worth far less in the cybercrime underground than cards pilfered from hacked brick-and-mortar stores. But new data suggests that over the past year, the economics of supply-and-demand have helped to double the average price fetched by card-not-present data, meaning […]