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New report on card fraud shows online fraud increasing
Card fraud within the Single Euro Payments Area (SEPA) increased in 2012 for the first time since 2008, driven mainly by higher internet fraud. The third report on card fraud, published by the European Central Bank (ECB), finds that more efforts will be required to ensure the security of online card payments as internet purchases [...]
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Cyber criminals creating private virtual currency
Ever since the Liberty Reserve take-down in May of last year and the confiscation of all accounts by law enforcement, fraudsters have been busy finding a solid virtual currency to which they can entrust their spoils without the risk of losing them in a bust – according to a new blog by RSA. The obvious [...]
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US banks re-issue 17.2 million cards data breaches
US banks have been forced to pay out over $172 million in re-issued plastic cards, according to figures from the Consumer Bankers’ Association following the well publicised data breaches of 2013. The cost to replace each card comes to an average of $10.00, with a total of 17.2 million cards substituted so far by CBA [...]
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Card firms suspended after SK data breach
The three companies at the centre of the South Korean data breach which saw personal information stolen from millions of South Koreans have been forced to suspend operations for three months by the authorities. The Financial Services Commission has ruled that for three months from 17 February, KB Kookmin Card, Lotte Card, and NH Nonghyup Card [...]
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ChewBacca POS malware operation stealing payment card information
In a recent investigation, RSA researchers uncovered the server infrastructure used in a global Point-of-Sale (PoS) malware operation responsible for the electronic theft of payment card and personal data from several dozen retailers, mostly based in the US. Infection activity has also been detected in 10 other countries including Russia, Canada and Australia. While the [...]
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