Commercialization of fraud on the rise – casting a wider net of cybercriminals

December 17, 2020 | |Post a Comment

first_img continue reading » There’s a new kind of fraudster out to steal credit union members’ financial information – and they may not even possess the electronics expertise or computer savviness of a typical cybercriminal. In fact, they can be anyone.Modern technology has made it easy for anyone to become a fraudster. Skimming devices, in particular, are becoming more widely available on the dark web for the average criminal to buy. The thieves discreetly place these fake card readers on point-of-sale (POS) machines, most commonly ATMs and gas station pumps, to steal credit and debit card numbers, PIN numbers and other account data from unassuming consumers when they use their cards.Experienced fraudsters are manufacturing these skimming devices and selling them on the black market. They’re also providing free and searchable online access to forums, video tutorials and other instructional guides to entice others to use these devices, as well as advice on how to commit fraud online (such as spamming) and circumvent security measures.Skimming devices have also become more inconspicuous and accommodating for capturing card data. Many of them are smaller in size and can be mounted in various positions on ATMs and gas pump machines, and can even fit inside the card reader. They also contain less metal parts and a larger memory, as well as lithium batteries for extended recording times. Additionally, they have wireless Bluetooth or mobile capabilities. This means that the fraudster can simply download the stolen data from the device and does not need to return to retrieve the equipment. Wireless technology keeps the fraudster out of sight from security cameras and reduces the risk of getting caught. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img



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