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Posted: May 25, 2017
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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
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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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Posted: Apr 19, 2017
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Author: Lou Grilli

The breach involved malware placed on payment systems inside Arby’s stores

Very recently another major breach of payment card data was made public, this time by Arby’s. The breach compromised more than 355,000 credit and debit cards at Arby’s 1100 corporate-owned stores nationwide.  The breach, which is estimated to have occurred between Oct. 25, 2016 and January 19, 2017, involved malware placed on payment systems inside Arby’s stores. And this comes at a time when many credit unions are still recovering from the losses and costs associated with the recent Wendy’s breach, which was also large-scale, as well as massive breaches at Target and Home Depot and several others over the last two years.
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Posted: Apr 13, 2017
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Author: Lou Grilli

As it turns out, a lot less than your username and password.

Credit and debit card numbers obtained by fraudsters through breaches at the POS used to fetch $5 and up on the dark web, to be used as counterfeit cards or used for fraudulent online purchases. But a recent webinar presented by the Aite Group, using data from Trend Micro, showed some eye-opening data, that a PAN with expiry and CVV is worth less than a quarter. Meanwhile a valid PayPal username and password is worth over $6, with Uber and Facebook username/password combinations going for around $3. What has changed?

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Posted: Feb 6, 2017
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Author: Paul Castner

CSCU payments prognosticators are at it again!

It’s time to put our carefully laid plans for 2017 into action. What will 2017 bring? We asked two CSCU thought leaders to share with us their predictions for the year and implications for the credit union community.

Tom Davis, CSCU’s SVP of Finance & Technology, gave us his top predictions:

Checkout-less shopping will proliferate.  Merchants like Chipotle and Taco Bell have already released their “order ahead” and “checkout-less” shopping apps.  Sam’s Club joined the party when they released their “Scan and Go” app in 2016.  Amazon’s new checkout-less grocery store is taking all of this a step further.  These apps and shopping experiences provide real conveniences that consumers value

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