May 9, 2017
The replacement of magnetic cards has shifted the threat matrix from the card to the consumer – and we’re more at risk than ever
Bank fraud is a big, ripe and juicy target. For many of us, it’s very satisfying to track it down and shut it down. But it’s also a moving target – we shut it down here, it moves over there. And at times, it moves much faster than us.
Example: Barely three years ago, the threat du jour was magstripe data theft. Massive breaches at major retailers like Target and Home Depot – and others that didn’t get the same attention – led to millions of credit card accounts being compromised. Security professionals worked frantically to rectify the vulnerabilities, retailers and banks alike took a financial hit, a ...