20 Aug
Information of over 20,000 credit cards has been stolen
Posted in Credit card, Financial, Scam by admin | No CommentsThe National Police Service in Ireland is investigating a major credit card scam in which information of more than 20000 credit and debit cards have been stolen. The attackers placed on the bank’s staff and rogue devices attached to card readers in retail stores from the north-east of Ireland. The captured data sent over the Internet via a wireless connection.
The use of rogue card reader, for example, linked to the bank’s ATMs, is not unusual in a world of credit card fraud but in this case made it on a large scale. In addition, the data collected can be used to create clones of the cards, to empty accounts or perform online transactions.
As most European countries are using “chip-and-pin”, where an embedded chip is also controlled in the credit card that is inserted into an ATM, scammers will likely attempt to draw money from other countries in the world who do not have this system is implemented. To combat this, affected financial institutions such as Bank of Ireland has been temporarily limited overseas withdrawals to as little as $ 150, in addition to completely block certain cards from being used.
Jennie Chamberlain, marketing manager for the Irish Payment Services Organization, commented that people whose credit card was stolen would be notified of their respective banks and added that it was possible that some of the information that has already been used for fraud.
In recent years, those that use embedded chips in credit cards has significantly reduced credit card fraud in the European Union. However, this has a downpour. The attacker moved to countries outside the EU to withdraw the money, which makes it much more difficult to trace and arrest them. “Kortbedrägerier have tended to move to the weakest link,” said Jennie Chamberlain.
The “chip and pin” system does not offer protection for online transactions, in which the only credit card is needed, and not the physical cards themselves. The Web is also the environment in which many forms of social engineering, such as e-mail and phishing, is used in order to steal personal information. For additional information about this attack are kept secret during the investigation, because of the sensitive nature of the data.
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