Researchers Find Weaknesses in Magstripe Gift Cards

2009-10-27T14:54:35
ID THREATPOST:9E2AED8B9279D46E50B071C3FBC2E99B
Type threatpost
Reporter Ryan Naraine
Modified 2018-08-15T14:21:05

Description

It’s not just credit cards and debit cards
that are at risk of fraud: pre-paid gift cards can also easily be
cloned and stolen by cybercriminals, according to newly published
research
[pdf] from U.K-based Corsaire.

The researchers found that the magnetic-stripe
technology used for gift cards and customer loyalty cards — as well as
their easy accessibility — make them attractive targets for the bad
guys. Gift cards can easily be “sniffed” off the shelf in the checkout
line with a scanner and then cloned; the card number on the back of the
card stolen; and the retailers’ Web-based gift card applications
hacked.

Read the full story [DarkReading/Kelly Jackson Higgins]