To maximize profits, fraudsters need to do a lot of learning. They can either learn techniques of areas they haven't focused on yet, learn better techniques in the field they already specialize in, or learn new cover stories to improve the techniques they already use.
The worlds of counter terrorism and fraud prevention should increase their ties. Systems that are already implemented in one world may be applied to the other. Solution providers and policy makers from both worlds need to meet up and share ideas, thoughts and experience for the benefit of both.
A bank that will fail to give fraud departments the power to make the necessary changes to its internal processes, may end up in a situation where everyone knows how and why fraudsters are stealing money from their bank – yet nothing can be done to stop it.
Some newer POS systems in the US have built-in authentication systems designed to protect merchants against the addition of fraudulent PIN pads. Should PCI now require retail businesses to upgrade to newer and better technology?
Second column in a series describing the hottest commodities found in underground markets. We continue to explore the trending “commodities” in these markets and how to protect from your data being exchanged in these markets.
To mitigate data security risks at the Point of Sale (POS), retailers are building and implementing technical control systems to monitor data traffic and tokenizing and encrypting data, to increase security. But often times, simple preventative solutions are taken for granted and get lost in all of the rhetoric.
While fraudsters may be equal in terms of rank, when it comes to sophistication – they are not. Much like in the hacking community, the higher the sophistication level of individuals, the lesser they are in numbers.
The day after Twin Towers fell, all kinds of security measures changed and new ones were implemented overnight. Is there a Web identity 911 equivalent wake-up call coming—a single event that will suddenly jolt us into enforced standards overnight?