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See what you can do to avoid credit cards hack
Tech news
Before we can discourse how credit cards data get hacked, and possible suggestions to stay safe, it is imperative to understand how credit cards work. What is a credit card? Am sure we been hearing about it times without number, but for the sake of those who don’t know, a credit card is a small plastic card issued by a bank, building society, that allows the cardholder to pay a merchant for goods and services, based on the cardholder’s promise to the card issuer to pay them for the amounts so paid plus other agreed charges. See what you can do to avoid credit cards hack
It is this process of the transaction that if caution is not taken, the card’s details can be gotten by hackers, who invest time and resources to develop complex software to enable them to achieve this purpose.
READ- WIRESHARK HACKING TUTORIAL
See what you can do to avoid credit cards hack
Why are these attacks still happening?
According to an analysis made by USATODAY, 2 major reasons have been identified, 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. 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.
One of the ways customer credit card get hacked is through point-of-sale systems popularly known as (POS), which happens to get a wide patronage as merchants desire to optimize sales even to the point of cashless transactions. Customers feel a sign of relief not having to worry about carrying heavy sums of money around. It is at his point they become big victims of credit card hacks.
How is this Achieved by hackers?
According to the 2017 Data Breach Investigations Report by Verizon. 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. See what you can do to avoid credit cards hack
Cyber criminals insert malicious software into a company’s point-of-sale (POS) system. The malware surreptitiously records credit and debit card information when customers swipe them through payment terminals. It later sends the card information to the thieves, who sell it on the Internet underground, known as the dark web
What have been the effects so far?
The implication of credit card hacks affects both the card holder and retail companies because they are slow to install software patches, even for known security problems. They fear the patches might disable their POS software or terminals, causing them to miss sales.
Solutions
Cyber security is a bitter reality, in as much as technology brings relief, it also has a bitter peel. Individuals first need to take caution on who, where and how they use and disclose credit card details. No system is 100% secure, but retailers must learn to take the necessary steps, and not wait until they get hacked before they wake up to responsibilities.
On the customer’s hand, they need to protect themselves by looking for retailers that have enabled chip-based credit and debit card as this is much more secure than magnetic stripe cards. See what you can do to avoid credit cards hack
Conclusion
If the above-mentioned steps are taken seriously, bu implication, As that changes, POS hacking will become less lucrative, because the information hackers can collect won’t be worth as much on the black market
See what you can do to avoid credit cards hack
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