New research has shown that your Visa card (credit or debit) can be cracked frighteningly easily in around six seconds flat via a method which simply involves guessing the correct details, and exploits two main weaknesses in the card’s payment security system.Security experts at Newcastle University in the UK found the flaws in the Visa system, obtaining details using a ‘distributed guessing attack’ which could, they theorise, have been used in the major Tesco Bank fraud which happened a month ago and affected some 40,000 customers.Amazon Prime Day deals: see all the best offers right now!So how does this work? Basically, the first of the two aforementioned major weaknesses is the fact that the online payment system for Visa doesn’t detect spammed payment attempts across multiple sites, meaning attackers can use their 10 to 20 guesses on each site across a huge number of websites to effectively allow for ‘unlimited’ guesses at card data fields.When … [Read more...] about Got a Visa card? Then you need to read this
Visa network down
WASHINGTON, D.C.--Torrents and the founders of The Pirate Bay won't be anywhere near the marbled halls of the U.S. Capitol, but their influence will play a part during a hearing taking place here today before the Senate Judiciary Committee. Sen. Patrick Leahy (D-Vt.), the committee's chairman, has called the hearing to garner testimony from some of the companies that could be asked to accept greater responsibility in the government's antipiracy efforts. Leahy is expected to reintroduce legislation into the Senate this year called the Combating Online Infringement and Counterfeits Act (COICA), and he's scheduled appearances by representatives from Visa, GoDaddy, Rosetta Stone, and Verizon. COICA is designed to speed up the legal process of shutting down U.S. sites accused of illegally trafficking in intellectual property. For overseas sites suspected of illegally distributing copyrighted material, the legislation would hand the government the power to order ad networks, payment … [Read more...] about Will Verizon, Visa support Senate antipiracy bill?
At the RSA conference, there was a lot of talk about affiliate networks—that is, the people and companies who knowingly or unknowling help spread malware, build botnets, and make nefarious activities possible and profitable for the individuals operating these endeavors. While these affiliates have helped make malware more dangerous, they could also be the key to shutting down the bad guys. Many people probably assume that ne’er-do-wells behind malware operations are solely responsible for creating and distributing it to victims. However, this is not the case. Taking a page from organizations like Amway, malware creators actually employ individuals to spread it for them, either through phishing scams, malvertising, or other vectors. Affiliates can also be freelance translators, or credit card processing companies that unknowingly aid in cybercrime activities. What the Affiliates DoAffiliate networks can take many forms and apparently trace their roots to "fake AV" from … [Read more...] about Going After Affiliate Networks, Malware’s Achilles’ Heel
Operation Payback is targeting yet another WikiLeaks opponent. This time, it hit Visa.com with a denial of service attack after the credit card company's European division stopped processing WikiLeaks donations. Visa confirmed the outage, but said customer data was not at risk. Chatter on the 4chan.org bulletin board a site frequented by Anonymous posters, suggested that PayPal might be the next target, with its payment gateways, or the New York Stock Exchange, or Twitter, which suspended the account used for the Anonymous operations. "Visa's processing network, which handles cardholder transactions, is functioning normally and cardholders can continue to use their cards as they routinely would," Visa Inc. said in a statement. "Account data is not at risk. Separately, Visa's corporate website - Visa.com - is currently experiencing heavier than normal traffic. The company is taking steps to restore the site to full operations within the next few hours." As of 5:45pm Eastern time, … [Read more...] about Operation Payback Takes Down Visa Site Over WikiLeaks Ban
Today's banks and credit card providers have a number of sophisticated methods to detect fraud, but Visa has a new approach that will match your purchases to your phone's location. MasterCard, meanwhile, announced plans to authenticate users via facial and voice recognition and fingerprint matching. Starting in April, Visa credit card issuers will be able to add location tracking to their mobile apps. Install the app, turn on location information, and Visa will be able to cross-check your purchases to your location before it shuts down an account for suspected fraud activity. The actual matching will be done by mobile identity firm Finsphere, and you can shut it off at any time. So, if you head to Las Vegas for the weekend and splurge on a fancy dinner or withdraw a few hundred dollars from the ATM and hit the casino floor, your phone app will tell Visa that you are, in fact, in Las Vegas and not at home. Usually, it's advisable to call your credit card company before you go on … [Read more...] about Visa to Detect Fraud Via Location-Tracking Phone Apps