Fraudsters make hay while sun shines, Payment system attacks

The holiday season is buzzing with spirited, less-careful consumers making billions of dollars of purchases. And fraudsters are looking to make hay while sun shines. Both online and offline, millions of consumers are in a hurry to shop for discounted goods as well as gifts for family and friends. Nothing wrong with that but with newer methods of mobile, app-based, and web based payments the complexity of the transactions and vulnerabilities are increasing. The combined effect is the following fraud attacks that have come to our notice.

Rare POS Botnet attack:

What is most alarming is that the attacks are coming to the POS - and these are advanced Point of sales botnets. This botnet is wrecking havoc now (has not been stopped) at merchants and restaurants. There have been POS attacks in the past, e.g., at Subway, but this Botnet is quite evolved. It is supposed to have compromised more than 20,000 payment cards since August, as per researchers from IntelCrawler. The researchers arrived at the findings after infiltrating one of t ...

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