SoylentNews is people
SoylentNews
Arthur T Knackerbracket has found the following story:
KrebsOnSecurity gives us a look at credit card skimmers from a side we may not have seen before, skimmer salespeople showing exactly how to install them.
Traditional ATM skimmers are fraud devices made to be placed over top of the cash machine's card acceptance slot, usually secured to the ATM with glue or double-sided tape. Increasingly, however, more financial institutions are turning to technologies that can detect when something has been affixed to the ATM. As a result, more fraudsters are selling and using insert skimming devices — which are completely hidden from view once inserted into an ATM.
The fraudster demonstrating his insert skimmer in the short video above spends the first half of the demo showing how a regular bank card can freely move in and out of the card acceptance slot while the insert skimmer is nestled inside. Toward the end of the video, the scammer retrieves the insert skimmer using what appears to be a rather crude, handmade tool thin enough to fit inside a wallet.
A sales video produced by yet another miscreant in the cybercrime underground shows an insert skimmer being installed and removed from a motorized card acceptance slot that has been fully removed from an ATM so that the fraud device can be seen even while it is inserted.
-- submitted from IRC
(Score: 3, Interesting) by skater on Wednesday November 30 2016, @12:35PM
They're slowly phasing in chips - many larger retailers now have chip readers, but gas stations (for example) still have swipe only. I have no idea why it took this long, or why they did chip-and-signature instead of chip-and-PIN like the rest of the world.
(Score: 3, Insightful) by bob_super on Wednesday November 30 2016, @07:07PM
It took so long because "Not Invented Here".
Also, they tied in the better security with changing the party responsible for the fraud, which caused endless arguments and foot-dragging.
They got further delayed by doing it differently than the rest of the world, causing the unnecessary transaction-processing delays someone mentions below, which meant retailers didn't rush to lose throughput.
Chip-and-Signature, which is so insanely stupid that I am flabbergasted every time I even think about it, it because (I'm paraphrasing the quote) "Chip-and-pin would be confusing for our customers". Which means that Americans either have too many credit cards in their wallets to care about their individual PINs, or that US banks believe Americans are just quantifiably stupider than people from most other countries. Take your pick.
TMYK.
(Score: 0) by Anonymous Coward on Wednesday November 30 2016, @07:34PM
it's probably both but "too many credit cards in their wallets to care about their individual PINs" is definitely true. people here think credit makes you a big shot.
(Score: 0) by Anonymous Coward on Thursday December 01 2016, @10:45AM
In America, PINs are for ATM cards.