Put simply, the information recorded on the cards was stolen during transactions - known as Card Present or CP. In the US, three-quarters of compromised cards were likely compromised through skimming card data and point of sale breaches at merchants, Gemini Advisory said. The Gemini Advisory estimate is also the polar opposite of card fraud in Australia, where CNP fraud on all cards accounts for 85 percent of local card fraud volume at last count. It's a big number so big it infers US efforts to bring merchants along for the EMV ride (think chip and PIN) aren't working anywhere near as well as they should and cultural norms, like signing for a transaction (and adding a tip), just aren't going away. In a paper certain to irritate global card schemes, security vendor Gemini Advisory used what it says is telemetry data collected from illegal web-based market places and found that at least 60 million US cards were compromised in the past year.
That's the bleak and rather counter-intuitive picture painted by a new study suggesting that when it comes to fraud, it really doesn't matter how many cards get chipped if merchants still default to vulnerable and increasingly compromised swipe terminals. Countries like Australia may well wince at exploding online credit card fraud levels, but in the land where credit cards were invented, card sharps are sticking to a tried and tested technology to bypass a massive EMV security crackdown: the humble magnetic stripe.
0 kommentar(er)
