credit card theft

Credit card skimming: Not all ATMs are safe

Cisco Subnet — Thu, 02 Oct 2008 18:34:20 -0400

Taking just 5 seconds to inspect any credit/debit card readers before you swipe could end up saving you from identity and credit card theft, writes Jamey Heary, Cisco security expert and Cisco Subnet blogger. Read his blog in which he shows readers what to look for before you swipe your next card. The con is called skimming. Thieves retrofitting a perfectly legitimate card reader (like an ATM) with a camouflaged counterfeit card reader. The counterfeit reader records all of your card’s information as it passes through. Read Jamey's blog to see examples of well-hidden skimming devices and what you can do to protect yourself from falling victim.

More from Cisco Subnet:
* Credit card skimming: How thieves can steal your card info without you knowing it
* Top 5 Branches Office Design Tips
* Microsoft, Cisco deliver Windows Server on WAAS for branch offices
* DMVPN: How this Cisco IOS technology can help cut 70% off your corporate phone bill, Part 1
Go to Cisco Subnet for more Cisco news, blogs, discussion forums, security alerts, book giveaways, and more.

Credit Card Skimming: How thieves can steal your card info without you knowing it

jheary — Wed, 01 Oct 2008 16:52:54 -0400

Taking just 5 seconds to inspect any credit/debit card readers before you swipe could end up saving you from identity and credit card theft. I’ll show you what to look for before you swipe your next card. The con is called skimming. Skimming works by retrofitting a perfectly legitimate card reader (like an ATM) with a camouflaged counterfeit card reader. The counterfeit reader records all of your card’s information as it passes through. To give you an idea of what we are dealing with, here is a picture of an ATM with a skimmer overlaid on to the slot where you insert your card and a micro camera hidden behind a bogus white plastic piece above the PIN keypad. This ATM was reported to police on September 6, 2008. Image is Courtesy of Naples Police Department: Would you have known it was stealing card data? The purpose of this blog is to educate you on how to identify a skimmer. To that end I’ve compiled a portfolio of example photos made up of both basic and advanced skimmers. It is by no means all inclusive but should give you a heads up on what to look out for the next time you go to swipe your card. According to law enforcement, “Credit card skimming has been around for years and is a growing problem that seems to be getting worse.” Many of us take for granted that inserting your credit/debit card into an ATM or swiping it at the grocery store or gas station is a safe practice. And most of the time you’d be right. However, skimmers are increasingly being retrofitted to legitimate ATMs, gas pumps, grocery/department store checkout machines, restaurants, etc., etc., you name it criminals are trying to skim your credit card from it. Here’s a look at the insides of the micro camera that is capturing video of your keypad presses. Image is Courtesy of Naples Police Department:

Read more

TJX identity theft saga continues: 11 charged with pilfering millions of credit cards

Layer 8 — Tue, 05 Aug 2008 18:48:13 -0400

The Justice Department charged 11 people in connection with the massive credit and debit card number theft from various retailers, including TJX, BJs and OfficeMax.

The group charged were involved in the theft of more than 40 million credit and debit card numbers that officials said they is the largest identity-theft case ever prosecuted by the Department of Justice.

Read more

Insurance broker for Hannaford provides insider view on data theft insurance

jheary — Fri, 21 Mar 2008 01:41:44 -0400

I have been exchanging emails off-line with Kevin P. Kalinich, J.D. Kevin is the Co- National Managing Director of the Financial Services Group at Professional Risk Solutions. A couple days ago Kevin emailed me a response to my blog on the Hannaford credit card theft and state of privacy breach insurance. Kevin is a pioneer in this emerging insurance space and I found his insight and experience very valuable. He sent me an excellent (30+ page) whitepaper he authored on the current state of the privacy breach insurance marketplace. You can get a copy of Legal Exposures to the Maxx here. It is a must read for any company considering a privacy breach insurance policy.

Read more

Privacy Breach Insurance; new solution for mitigating the risk of credit card and identity breaches

jheary — Tue, 18 Mar 2008 23:41:54 -0400

Yesterday’s announcement by the retailer Hannaford looks to be the second largest credit card security breach in history. It is reported that some 4.2 million credit card numbers and expiration dates have been stolen. With unfortunate regularity companies are disclosing they are the latest victims of massive credit card or Personally Identifiable Information (PII) theft. This has gotten the attention of a few Insurance companies who, in response, have created a new insurance product called Privacy Breach Insurance. Companies like Chubb, AIG, and Executive Risk are betting that as the information theft problem continues to escalate, companies will increasingly turn to privacy insurance as a way to stave off the risk and reduce the financial impact of a privacy breach.

Read more