Consumers who have been lulled in to a false sense of security over
credit card fraud could be in for a rude awaking. That was the message
delivered at Visa’s Global Security Summit held in Washington, D.C., on
Wednesday.
Disclosure last week of a serious data theft involving some of the nation’s largest data brokers hovered over the conference, and some experts suggested it signals a new wave ofsophisticated identity theft.
A gang of criminals had long-term access to Social Security Numbers, dates of birth and a treasure trove of other non-financial information stored by Lexis Nexis and about a dozen other data brokers, security expert Brian Krebs reported last week.
The data was often used to defeat so-called Knowledge Based Authentication, in which banks and other institutions ask personal questions to verify identities.
The incident shows that criminals trying to steal money from banks are using more sophisticated methods now, said , a security expert with Kaspersky Labs.
EU-Digest
Disclosure last week of a serious data theft involving some of the nation’s largest data brokers hovered over the conference, and some experts suggested it signals a new wave ofsophisticated identity theft.
A gang of criminals had long-term access to Social Security Numbers, dates of birth and a treasure trove of other non-financial information stored by Lexis Nexis and about a dozen other data brokers, security expert Brian Krebs reported last week.
The data was often used to defeat so-called Knowledge Based Authentication, in which banks and other institutions ask personal questions to verify identities.
The incident shows that criminals trying to steal money from banks are using more sophisticated methods now, said , a security expert with Kaspersky Labs.
EU-Digest
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