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Posted: Aug 17, 2017
Comments: 0
Author: Lou Grilli

How credit unions can make their members data less valuable on the dark web.

The dark web has been in existence since the 1990’s but has become a household word lately through ads from identity protection companies that offer to monitor the dark web. The ads warn a subscription-paying customer if their data may have been compromised and put up for sale.

The dark web is where fraudsters conveniently sell breached data such as usernames and passwords, credit and debit card data, alongside complete identities, passports, drugs, guns, and worse. The dark web, and the crimes associated with it, is a big and sophisticated business. There are fraudsters that

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Posted: Aug 10, 2017
Comments: 3

An update on credit or debit EMV chip cards

Fallback occurs when a credit or debit EMV chip card cannot be read at a chip terminal when inserted and is processed by swiping the mag stripe. Fallback is typically seen in a market where EMV is first being introduced. An incorrectly configured terminal, terminals that are not set up to process “chip and PIN”, terminals that have not been programmed to route transactions over some networks, and in rare cases, defective chips within the card, are all potential or legitimate reasons for a chip card to not be capable of being read properly at the terminal. In these cases permitting the cardholder to complete the transaction by swiping the mag stripe card at the terminal seems like the proper way to minimize customer inconvenience.
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Posted: Jun 21, 2017
Comments: 0
Author: Lou Grilli

Virtual cards provide members with a temporary card number for secure online shopping.

[Editor's Note: This article was previously published on CUInsight.com and has been modified.] 

It’s well known that as chip cards and chip card readers are putting a big dent in fraud conducted at the point-of-sale (counterfeit fraud), the bad guys are shifting their efforts to committing fraud online. E-commerce fraud (52%) clearly outweighs swiped fraud (28%) on credit cards, with debit card fraud still experiencing swiped fraud since not as many debit cards have been reissued with chips – that will change by the end of this year. Meanwhile, ecommerce breaches are popping up in the news with increasing frequency.

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Posted: May 25, 2017
Comments: 0
Author: Lou Grilli

Data thieves turn to Bluetooth technology at the gas pump.

Going old school for a moment to copy an expression used by Maxwell Smart, Agent 86 for Control, who ended most shows by lamenting about the bad guys: “If only they had used their powers for good instead of evil”. And so it goes in the case of the internet of things.

Skimmers have been a source of breached credit and debit cards since before 2010. Primitive skimmers were bulky and unreliable. Later skimmers that were inserted behind the cover of the gas pump or the ATM were not easily detected. Having security tape with a warning “Please report any broken seals to the cashier“ puts the burden on the customer to be wary of, and alert for skimmers, and put a damper on the rapid growth of skimmers at the pump – that is, until the internet of things came into popularity.

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Posted: Apr 19, 2017
Comments: 0
Author: Tom Davis

Even if IoT devices are not secure, payments made by connected devices are.

Lately it seems a lot of disturbing stories have been coming out about the Internet of Things (IoT). NBC News stated that there are over 6 billion connected devices in use, and predicted that this number will grow to over 20 billion by 2020. But is also showed a video reporting on a massive denial of service attack that used millions of connected baby monitors and home video cameras to launch the attack. More recently, the local Fox station in Orlando carried a story about a couple whose smart home was digitally infiltrated by a hacker who invaded the home via the voice-enabled two-way camera. In this case it was a “white hat” hacker, or a member of a group of ethical hackers who look for holes and inform the vulnerable without causing harm.
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