The news is still latest about the Debit and credit cards’ numbers which were stolen from Target, but have you ever thought about the stolen data?
Actually, the news is-Hackers are selling the hacked data online which contains credit and debit card numbers, Target must take care about this issue.
In some cases, Banks pay to crooks to get their stolen data back.
According to a security expert named “Neal O’Farrell”-there are many websites which are selling cards information online.
O’Farrell also discovered a card, which is on sale for $39 and anyone can purchase that data, but their primary customers are the Banks themselves to limit the damage done by hackers.
“They sell them to not the highest bidder, but any bidder,” says O’Farrell. “It’s almost like a kind of ransom.”
Not only the cards’ numbers are being exposed, they also show how these types of cards are vulnerable, O’Farrell says, “it’s a very, very old technology.”
As an example, let’s talk about the United States, here all of the card information are stored in a magnetic strips, which can be easily duplicated.
But Europe has a smart card technology which generates a new card number on every swipe.
“It’s much safer because it’s got essentially a tiny computer on board, which has got security mechanisms,” says O’Farrell.
Why US hasn’t smart technology like Europe, a possible reason is “It would cost in Billions.”
At Last, we want to say, if you are also a victim of Target Breach, so keep in contact with your bank to keep your eye on any Illegal transaction.