Identity thieves who specialize in tax refund fraud had big help this past tax year from Equifax, one of the nation’s largest consumer data brokers and credit bureaus. The trouble stems from TALX, an Equifax subsidiary that provides online payroll, HR and tax services. Equifax says crooks were able to reset the 4-digit PIN given to customer employees as a password and then steal W-2 tax data after successfully answering personal questions about those employees.
In a boilerplate text sent to several affected customers, Equifax said the unauthorized access to customers’ employee tax records happened between April 17, 2016 and March 29, 2017.
Beyond that, the extent of the fraud perpetrated with the help of hacked TALX accounts is unclear, and Equifax refused requests to say how many consumers or payroll service customers may have been impacted by the authentication weaknesses.
Credit and debit card payments giant Verifone [NYSE: PAY] is investigating a breach of its corporate computer networks that could impact companies running its point-of-sale solutions, according to multiple sources. Verifone says the extent of the breach was “limited” and that its payment services network was not impacted.
San Jose, Calif.-based Verifone is the largest maker of credit card terminals used in the United States. It sells point-of-sale terminals and services to support the swiping and processing of credit and debit card payments at a variety of businesses, including retailers, taxis, and fuel stations.
On Jan. 23, 2017, Verifone sent an “urgent” email to all company staff and contractors, telling them that they had 24 hours to change all company passwords.
One of the biggest cybersecurity stories of 2016 was the surge in online attacks caused by poorly-secured “Internet of Things” (IoT) devices such as Internet routers, security cameras, digital video recorders (DVRs) and smart appliances. Many readers here have commented with ideas about how to counter vulnerabilities caused by out-of-date software in IoT devices, so why not pitch your idea for money? Who knows, you could win up to $25,000 in a new contest put on by the U.S. Federal Trade Commission (FTC).
Visa this week delayed by three years a deadline for fuel station owners to install payment terminals at the pump that are capable of handling more secure chip-based cards. Experts say the new deadline — extended from 2017 — comes amid a huge spike in fuel pump skimming, and means fraudsters will have another three years to fleece banks and their customers by installing card-skimming devices at the pump.
The source code that powers the “Internet of Things” (IoT) botnet responsible for launching the historically large distributed denial-of-service (DDoS) attack against KrebsOnSecurity last month has been publicly released, virtually guaranteeing that the Internet will soon be flooded with attacks from many new botnets powered by insecure routers, IP cameras, DVRs and other easily hackable IoT devices.
In a notable sign of the times, cybercrime has now surpassed all other forms of crime in the United Kingdom, the nation’s National Crime Agency (NCA) warned in a new report. It remains unclear how closely the rest of the world tracks the U.K.’s experience, but the report reminds readers that the problem is likely far worse than the numbers suggest, noting that cybercrime is vastly under-reported by victims.
Lost amid the media firestorm these past few weeks about fraudsters turning to Apple Pay is this stark and rather unsettling reality: Apple Pay makes it possible for cyber thieves to buy high-priced merchandise from brick-and-mortar stores using stolen credit and debit card numbers that were heretofore only useful for online fraud.
For the second time in a year, multiple financial institutions are complaining of fraud on customer credit and debit cards that were all recently used at a string of Marriott properties run by hotel franchise firm White Lodging Services Corporation. White Lodging says it is investigating, but that so far it has found no signs of a new breach.
The Obama administration recently issued an executive order requiring that federal agencies migrate to more secure chip-and-PIN based credit cards for all federal employees that are issued payment cards. The move marks a departure from the far more prevalent “chip-and-signature” standard, an approach that has been overwhelmingly adopted by a majority of U.S. banks that are currently issuing chip-based cards. This post seeks to explore some of the possible reasons for the disparity.
An odd new pattern of credit card fraud emanating from Brazil and targeting U.S. financial institutions could spell costly trouble for banks that are just beginning to issue customers more secure chip-based credit and debit cards.