But not all retailers take the necessary steps. While no system is 100% secure, most can be made much safer than they are. “Now we’re agile, we’re releasing something every week, or every day or even every hour,” said Ryan O’Leary, vice president of the threat research center at WhiteHat Security in Santa Clara, Calif. While once companies might have gotten quarterly software updates, today they’re hit with a constant blizzard of them.
That inconvenience is compounded by the increased frequency of these recommended security updates.
#Visa credit card hack 2013 install
One problem is that many retail companies are slow to install software patches, even for known security problems, because they fear the patches might disable their POS software or terminals, causing them to miss sales. In May, Target agreed to pay $18.5 million to resolve state investigations into the attack that affected more than 41 million of the company's customer payment card accounts. In 2016, each stolen record cost retailers $172 to deal with, according to a study commissioned by IBM.
These breaches continue to cause retailers and their customers headaches. It later sends the card information to the thieves, who sell it on the Internet underground, known as the dark web. The malware surreptitiously records credit and debit card information when customers swipe them through payment terminals. This year they've made up just 6.7% of overall breaches tracked by the company, down from a high of 45.4% in 2011.Įven so, there are still lots of these thefts, in which criminals insert malicious software into a company's point-of-sale (POS) system. Proportionally, attacks on point-of-sale systems (as modern cash register systems are called) are down, according to the 2017 Data Breach Investigations Report by Verizon. “It’s expensive and complicated to get systems to up the point they’re really hardened against these kinds of attacks,” said John Miller, manager of threat intelligence for FireEye, a large cyber security company. They need money to hire tech staff to secure those networks, money to buy software to do the securing and money to buy new, encrypted point-of-sale machines. Time and money, say experts. It takes time for companies to rebuild point of sale systems more securely and shift from magnetic stripe credit and debit cards to more secure chip cards.
In the past few months, Chipotle, Arby’s and Kmart were all hit. Then came Home Depot. Then Neiman Marcus.
#Visa credit card hack 2013 how to
SAN FRANCISCO - After the huge Target breach of 2013, you’d have thought retail companies would have figured out how to protect their cash register systems from malware that attempts to steal customers' data. Watch Video: 5 hints to help protect yourself from credit card fraud
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