At one recent merchant account services industry event, those in attendance were shown just how easily credit card information could be stolen by sophisticated criminals.
Forbes reports that at the recent ShmooCon hackers conference in Washington, D.C., Kristin Pagen, a security researcher, told the crowd about how RFID-enabled credit card data could be taken by purchasing a relatively inexpensive reader. She said that though merchants have tried to protect users by encrypting data, it was not enough to prevent the issue from taking place.
“Whatever encryption or other security there might be, it doesn’t matter,” she said, according to the news source. “The reader just spits out the number as if I’m the point-of-sales terminal, which is totally stupid. This is an embarrassingly simple hack, but it works.”
The executive director of the Smart Card Alliance, Randy Vanderhoof, said that tracking down the criminals responsible for the crimes posed problems and that more needed to be done to study their behavior.
Another risk for credit card users is the threat of having personal information stolen online. A recent survey by KPMG revealed that four in 10 respondents worried about having information hacked.Back To Blog