Tagged Target breach

Three Financial Threat Trends and Projections for 2014, and How You Can Protect Yourself

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crystal-ballAt the end of 2013, our CTO Dan Ingevaldson made some predictions about how fraud trends would look in 2014. Now that the year is almost one-quarter over, we can already see how the highly dynamic risk landscape has confirmed some of Dan’s worst fears and then some, in addition to providing new threats appearing through novel attack vectors.

Here is a list of some fraud trends we are seeing that are currently impacting electronic transactions in a big way, and that we expect to see continue throughout the rest of 2014:

Tackling Today’s Evolving Fraud

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ImageIt almost seems like a day doesn’t go by without someone reporting the discovery of hundreds of millions of pieces of user-specific information related to credit and debit cards, e-mail addresses, or log-in credentials being sold on underground markets[1]. If these numbers are true, the banks are paying the price for these leaks in a big way.

The Long Tail of the Target Breach

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Target_DogOn January 21st, another huge batch of over 2 million cards hit the black market forums. After inspection y the Easy Solutions team, it appears that this batch is from the Target breach as well, which took place with some degree of uncertainty between November 27th and December 15. Evidence of the Target breach was first detected by Easy Solutions on December 11th and the breach was confirmed on December.

 

 

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Target Breach Global Impact - Non-US Cards Hitting Black Market

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It looks like it isn’t just American consumers dealing with the fall-out from the Black Friday Target breach.  A huge batch of 500,000 cards from non-US banks, with a big percentage from Latin America, have shown up on the black market for sale.  These “world dumps” fetch a premium and are selling from about $60 to well over $100 per card.