Experts from Newcastle University in England has found that hackers only need six seconds to figure out the card number, expiry date, and security code for a Visa debit or credit card by simple guesswork, according to a report from The Telegraph.
According to figures from the Office of National Statistics, in the U.K. the number of bank account fraud cases reported up to June 2016, from the beginning of the year, amounted to over 2.3 million.
The researchers found that all that a hacker needs is a computer and an Internet connection. It is believed that hackers simply utilize what is known as a Distributed Guessing Attack enabling them to get around security features [...]
The U.S. Bank has unveiled that it is attempting to stop fraud by using consumers’ mobile phones geolocation to determine if a consumer’s card information matches that of its phone, according to a report by American Banker.
Nowadays, it’s no longer possible to walk down the street without seeing someone on their phone. Nor is it possible to avoid the threat of fraud or identity theft, which targets people all over the world.
Now, though, in a bid to stop fraud the U.S. Bank has announced that it may have the solution to this: by utilizing a mobile phone’s geolocation by pinpointing exactly where a customer is and if it matches the location of their card.
The bank [...]
Hilton Worldwide is looking into claims of a substantial credit card breach after independent security researcher and journalist Brian Krebs broke the news this weekend.
According to security journalist Brian Krebs, multiple properties and franchises of the Hilton Hotel have been compromised by hackers in a sweeping credit card breach.
Krebs’ investigation is based on ‘multiple sources’ in the banking industry who noticed a steady pattern of fraudulent credit card transactions across Hilton properties.
Specifically, hackers have compromised point-of-sale registers used in gift shops and restaurants that oversee a large number of credit card transactions in Hilton [...]
American attorneys for the Icelandic hosting provider used by WikiLeaks, DataCell, have filed a suit against credit card giants MasterCard and Visa in United States District Court. The suit claims that Visa and Mastercard participated in a coordinated attempt to cut off funding to WikiLeaks. Visa and Mastercard’s combined monopoly on the international payments card network at the time was very effective in hurting WikiLeaks; however, the deliberate attack only fueled the fire. DataCell is being represented by US law firm Harvey and Binnall.WikiLeaks Bank Blockade Retribution
At the time, WikiLeaks was leaking a set of State Department cables between the US State [...]