SoylentNews is people
SoylentNews
Krebs on Security broke a story about Home Depot being breached, with an update stating that the banks believe the breach goes as far back as late April/early May.
Multiple banks say they are seeing evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards that went on sale this morning in the cybercrime underground. Home Depot says that it is working with banks and law enforcement agencies to investigate reports of suspicious activity.
[...]
In what can only be interpreted as intended retribution for U.S. and European sanctions against Russia for its aggressive actions in Ukraine, this crime shop has named its newest batch of cards “American Sanctions.” Stolen cards issued by European banks that were used in compromised US store locations are being sold under a new batch of cards labeled “European Sanctions.”
Home Depot's stock price also took a dive when the news was released.
(Score: 5, Informative) by frojack on Thursday September 04 2014, @06:41PM
Chip and Pin provides no protection against this type of massive credit card thefts.
Most of these stolen cards numbers get used for Mail Order or Telephone Order fraud. (MOTO)
Moto fraud is actually on the rise in much of the EU, and especially Russia. The TYPE of fraud is changing, fraudsters don't bother to clone cards any more, they just use them for internet orders [atmmarketplace.com].
Very comprehensive report here: http://www.ecb.europa.eu/pub/pdf/other/cardfraudreport201402en.pdf [europa.eu]
Chip and pin had beat down stolen and cloned card ATM and POS usage in the EU, but it has done nothing to suppress CNP (Card not Present) fraud. (page 10). And this is exactly the type of fraud these massive card heists are used for.
Still C&P can't hurt in the US, where a lot of these stolen cards numbers are sold into, because its still easy to clone a card in the US. Arstecnhica [arstechnica.com] also had an article on this, questioning whether it would be wise to hop onto 20 year old technology.
In spite of this, credit card fraud rates in the US, while staggeringly high in Dollars are still only 6 cents on 100 dollars, and that rate is still FAR lower than the EU rate after 10 to 15 years on C&P. The size of of us fraud in dollars simply demonstrates the size of the US econemy compared to the EU, and the extent to which we use credit cards for everything.
No, you are mistaken. I've always had this sig.