[PLUG-TALK] Debit Cards Vulnerable to PIN/Data Theft
rshepard at appl-ecosys.com
Mon Mar 13 06:39:24 PST 2006
Here's a rather disturbing bit of news:
Banks here in Oregon -- including WaMu -- have been affected by the theft
of PIN blocks and the data in the magnetic portion of debit cards because
either POS vendors or the back office processors got sloppy. They're storing
data rather than immediately deleting it, and crackers have taken advantage
of the lapse. CitiBank, Bank of America and others have been identified as
having been cracked.
The criminals use the stolen data to create working debit cards, then clean
out checking accounts at ATM sites.
Richard B. Shepard, Ph.D. | Quantifying subjectivity for the
Applied Ecosystem Services, Inc.(TM) | benefit of business and society.
<http://www.appl-ecosys.com> Voice: 503-667-4517 Fax: 503-667-8863
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