Posted: Tue, 08/09/2016 - 3:20pm
Using magnetic stripe cards, stealing money from accounts is a straightforward operation. Fraudsters can obtain card data by hacking into point-of-sale (PoS) systems, by installing skimmers on ATMs, or by purchasing it from cybercrime marketplaces. The data is then encoded onto blank cards that can be used to make purchases or withdraw money from cash machines. The data is valid until the issuer cancels the payment card – which could take a long time considering that some data breaches are discovered only after many months.
Read more at SecurityWeek