More copycat Target computer hacks expected in 2014
Expect to see more credit card security breeches like Target in the retail industry later this year, many cybersecurity experts say.
Find out what's happening in Deerfieldwith free, real-time updates from Patch.
Recent successful attacks to steal sensitive credit card data from Target, Wal-Mart, Sears and Neiman-Marcus are only the tip of the iceberg experts say. Many victimized stores, to the dismay of customers, are even publicly refusing to disclose whether or not they have been hacked.
Find out what's happening in Deerfieldwith free, real-time updates from Patch.
“There will be a wave of attacks on the retail industry throughout the year,” David Kennedy, a cybersecurity consultant, recently told Gannett’s USA Today.
The recent well-planned international hacking of as many as 110 million Target credit cards is estimated to reap the thieves billions of dollars. These cards now being sold on the black market at roughly $80 per card.
Companies are finding it increasingly difficult to protect themselves and their customers from credit card theft. Once the thieves obtain point-of-sale register control of a card by keying in the right log-on and password code the door is wide open for illicit use.
Many cybersecurity experts agree that our national credit card system needs to be replaced. They say the payment's card’s magnetic stripe on the back needs to be replaced by chip-embedded payment cards, just as in Canada, Asia and Europe.
However, replacing the current cards with security chip cards will be expensive and time-consuming, according to Anup Ghosh, representing a browser security firm.
“In the interim, consumers need to count on retailers to secure their store and corporate networks in order to ensure exposed consumer data is protected,” he said.
What can the consumers do to protect themselves? Well, for starters you can pay by cash or personal check.
###
