A security analysis firm called Gemini Advisory recently posted a report saying that credit card fraud is actually on the rise in the US. That's surprising, because the US is three years out from a big chip-based card rollout. Chip-based cards were supposed to limit card fraud in the US, which was out of control compared to similar fraud in countries that already used EMV (the name of the chip card standard). Further ReadingWhat happened after the US moved to chip-embedded payment cards?Chip cards work by creating a unique code for each transaction, and (ideally) require a customer to enter a PIN to verify that they want to make the purchase. This doesn't make it impossible to steal information from chip-based cards, but it does make it much harder to reuse a stolen card. By contrast, using a magnetic stripe to swipe a card simply offers all the relevant information to the merchant's card reader, which is much easier for a bad actor to steal. Gemini Advisory now says that 60 million … [Read more...] about Why aren’t chip credit cards stopping “card present” fraud in the US?
The Insider Picks team writes about stuff we think you’ll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase. caption There is no annual fee for the Amazon Prime Rewards Visa Signature Card, and the $70 gift card received upon approval provides an immediate cash incentive. source Amazon Instagram With 5% cash back on all Amazon and Whole Foods purchases, the Amazon Prime Rewards Visa Signature Card is a must-have for existing Prime members who shop frequently on the site. With no annual fees, 0% APR for the 15 months, and an instant $70 gift card for applicants who are approved, the Amazon Prime Rewards card pays for itself instantly, with no additional costs. Shopping outside of Amazon earns 2% back on gas and groceries, and 1% on everything else, making this an excellent all-around card. With no annual fee, and an impressive 5% back on all Amazon and Whole Foods purchases … [Read more...] about Amazon has a no-fee credit card that Prime members should strongly consider opening — if only for the 5% cash back on all their Amazon and Whole Foods purchases
Infowars is best known as the fake news platform used by beetroot-red nutjob Alex Jones to spout wild conspiracies and defame grieving parents. But did you also know it boasts an online store where you can buy vitamins, “neutraceuticals,” and garish right-wing t-shirts? I mention the retail bit because, according to ZDNet and Dutch security researcher, Willem de Groot, it was recently the site of a particularly nasty Magecart infection, which hoovered up the details of roughly 1,600 customers. Did you know we have a cryptocurrency and blockchain event? It’s called Hard Fork Decentralized Oh really? Magecart is a strain of malware that targets online retail platforms. It works by silently recording the payment card details submitted by users, and then sending them to a remote server, where they can be used for credit card fraud, or sold on to other criminals on the black market. According to de Groot, the malware was concealed within a block of Google Analytics … [Read more...] about Alex Jones’ Infowars store was infected with credit card skimming software
By Fares Sabawi, mySanAntonio.com Updated 3:25 pm CST, Monday, November 12, 2018 Exxon Location: 2102 Southwest Military Drive Dates: Oct. 1 Number of skimmers found: 2 Exxon Location: 2102 Southwest Military Drive Dates: Oct. 1 Number of skimmers found: 2 Photo: Google Maps Valero Location: 2950 Southwest Military Drive Dates: Oct. 10 Number of skimmers found: 1 Valero Location: 2950 Southwest Military Drive Dates: Oct. 10 Number of skimmers found: 1 Photo: Screenshot Via Google Maps Valero Location: 3503 Wurzbach Road Dates: Oct. 11 Number of skimmers found: 4 Valero Location: 3503 Wurzbach Road Dates: Oct. 11 Number of skimmers found: 4 Photo: Screenshot/Google Maps Valero Location: 6735 Medina Base … [Read more...] about Where SAPD found 39 credit card skimmers in October
In brief: After being the standard in Europe for around a decade, chip-enabled credit cards finally came to the US in 2015. They were supposed to help prevent the fraud problem that had reached huge levels, but a new report shows that’s been far from the case. Research firm Gemini Advisory revealed that three years after chip-enabled cards were rolled out in the US, they have done little to combat fraud. Out of the 60 million cases of credit card theft in the last 12 months, 93 percent were equipped with the new chips. The majority of these compromised cards—75 percent—were stolen at the point-of-sale devices, while only 25 percent came from online breaches. The EMV standard, which is named after the Europay, Mastercard, and Visa companies that created it, was designed to reduce fraud by creating an encrypted handshake between the card and the merchant’s POS terminal. It is meant to replace traditional magnetic-strip cards, which contain data that criminals can … [Read more...] about Chip-enabled credit cards are reportedly doing little to prevent fraud