Latest Pakistan bank-card fraud looks like an actual breach, researchers say
A spike in payment-card fraud in Pakistan over the past six months now appears to involve a possible breach of at least one bank’s internal systems, according to researchers with New York-based threat intelligence company Gemini Advisory. Previous reports — including research by Moscow-based cybersecurity company Group-IB — had noted two major dumps of Pakistani payment-card data on the dark web market Joker’s Stash in October and November, as well as further sales in January of this year. Gemini Advisory says it now appears that the card-information dumps point to a more aggressive level of hacking beyond point-of-sale attacks. “While fraudsters generally acquire card and PIN data with card skimmers and cameras or overlays, the January 24 and January 30, 2019 breach included such data in large quantities pertaining to a single bank – Meezan Bank Ltd.,” Gemini Advisory says. “Gemini analysts therefore assess with moderate confidence that the compromised records posted […]
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In what amounts to a very clever brute force attack a group of researchers has figured out how to find credit card information – including expiration dates and CVV numbers – by querying ecommerce sites. The process, which was outlined in IEEE Security & Privacy, involves guessing and testing hundreds of permutations of expiration dates and CVV numbers on hundreds of…