In October 2014, KrebsOnSecurity examined a novel “replay” attack that sought to exploit implementation weaknesses at U.S. financial institutions that were in the process of transitioning to more secure chip-based credit and debit cards. Today’s post looks at one service offered in the cybercrime underground to help thieves perpetrate this type of fraud.
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.
The malicious software that unknown thieves used to steal credit and debit card numbers in the data breach at Home Depot this year was installed mainly on payment systems in the self-checkout lanes at retail stores, according to sources close to the investigation. The finding means thieves probably stole far fewer cards during the almost five-month breach than they might have otherwise.
C&K Systems Inc., a third-party payment vendor blamed for a credit and debit card breach at more than 330 Goodwill locations nationwide, disclosed this week that the intrusion lasted more than 18 months and has impacted at least two other organizations.
The recently-announced credit card breach at P.F. Chang’s Chinese Bistro appears to have gone on for at least nine months: New information indicates that the breach at the nationwide restaurant chain began on or around Sept. 18, 2013, and didn’t end until June 11, one day after KrebsOnSecurity.com broke the news about the break-in.
The California Department of Motor Vehicles appears to have suffered a wide-ranging credit card data breach involving online payments for DMV-related services, according to banks in California and elsewhere that received alerts this week about compromised cards that all had been previously used at California DMV locations.
In response to rumors in the financial industry that Sears may be the latest retailer hit by hackers, the company said today it has no indications that it has been breached. Although the Sears investigation is ongoing, experts say there is a good chance the identification of Sears as a victim is a false alarm caused by a common weaknesses in banks’ anti-fraud systems that becomes apparent mainly in the wake of massive breaches like the one at Target late last year.
Cards stolen in a recent data breach at retail giant Target have been flooding underground black markets in recent weeks, selling in batches of one million cards and going for anywhere from $20 to more than $100 per card, KrebsOnSecurity has learned.
There are 1,001 ways to swindle people online, but the hardest part for crooks is converting those ill-gotten gains into cash. A new service catering to purveyors of ransomware — malware that hijacks PCs until victims pay a ransom – levees a hefty fee for laundering funds from these scams, and it does so by abusing a legitimate Web site that allows betting on dog and horse races in the United States.