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Credit Card Crime – Weaknesses in current system

This informative NBC news article shares weaknesses in current CC system

http://www.nbcnews.com/technology/online-hacks-plastic-fakes-strange-life-stolen-credit-card-2D11803344

QUOTE: If there is a weakness in a system, opportunistic hackers will find it. In 2007, criminals exploited the lax Wi-Fi security used with hand-held price-checking devices at multiple Marshalls locations. That resulted in 45.7 million credit card numbers being stolen from the store’s parent company, TJX. Criminal outfits also go after third-party payment processors, like Heartland Payment Systems, which suffered a massive breach in 2009 when SQL injection attacks (a common technique used by hackers) resulted in 130 million exposed card numbers.

Who is buying this stuff? - Massive breaches are usually the work of large, organized outfits spread across multiple countries. In July, five men were indicted in connection with the Heartland Payment Systems attack — four were located in Russia, with the other based in the Ukraine.

How much do credit card numbers sell for? – It varies wildly depending on the quality of the information stolen. You can score 10,000 bottom-of-the-barrel cards — which could include canceled and other high-risk cards — for as little as $10 or $20 total.

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