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US e-commerce fraud rates spike 33% in 2016 – EMV shift to blame
Last year Experian reported that 2016 e-commerce fraud attack rates were on pace to surpass the 2015 totals. At the time, the fraud attack rates for the first half of 2016 appeared to be at least 15% higher than the 2015 total. That percentage turned out to be much higher as e-commerce fraud increased to 33% in 2016 [...]
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Chip and PIN hacked…again
Researchers speaking at the Black Hat conference in Las Vegas demonstrated how the Chip and PIN system has been exploited to make a cash machine give out money. Small modifications to equipment allowed attackers to intercept the systems used to authorise payments. While Chip and PIN is widely used across Europe, the US is only beginning to [...]
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Cyber criminals break Chip and PIN
It has bee revealed that cyber criminals have worked out a way to hack the Chip and PIN card system currently being introduced at businesses throughout the US and widely used throughout Europe. Five French citizens have been convicted of manipulating vulnerabilities in the system with a card-switching technique that included substituting the PIN on a [...]
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