Hackers Still Targeting Payment Card Data

Cybersecurity attackers are rapidly evolving their techniques to affect more computers and devices than ever before.

So far this year, many high-profile data security breaches have occurred that have potentially affected millions of individuals’ payment card information such as credit cards and debit card information; personal identifying information such as first and last name, Social Security numbers, address, birthday; and medical records.

Because of breaches focused on personal information, card-not-present fraud professionals have brought their attention to new kinds of fraud based on personal information such as account takeover, account creation and synthetic fraud.

Based on a new report from Trustwave, an information security company that provides threat, vulnerability and compliance management services and technologies, credit card data is still being stolen at a high rate and used against merchants. The company’s 2017 Global Security Report shows 63% of all investigated incidents targeted payment card data. 33% targeted card track data, mainly from POS environments, and 30% were focused on card-not-present data with e-commerce retailers being the main target.

It’s critical for merchants to find a reliable and secure merchant services provider like eMerchantbroker to turn to for payment processing. EMB is a reputable and award-winning payment processor and alternative online lender that specializes in the high risk industry. eMerchantBroker is voted the #1 high risk payment processor in the US and has an A+ rating with the BBB. Moreover, EMB is rated A by Card Payment Options and is named one of Inc. 500’s Fastest Growing Companies of 2016. In partnership with Verifi and Ethoca, eMerchantBroker provides unmatched chargeback preventions and protection services to merchants of any type and size.

The good news for online merchants is that only 26% of all network breaches affected the e-commerce space as compared to 38% in 2015. This is conditioned by their brick-and-mortar stores. The POS was the source of 31% of security compromises in 2016. This number was 22% percent in 2015. On the whole, retail accounted for the most cases making up 22% in 2016. Next come food and beverage representing 16%. What is more, the median number of days from an intrusion to detection was 80.5 days in 2015 and became 49 days in 2016.