Menu
As China moves to payment cards, cybercriminals follow

As China moves to payment cards, cybercriminals follow

Trend Micro says there's high interest in card fraud as more people move away from cash

As China increasingly embraces payment cards over cash, Trend Micro is seeing an uptick in cybercriminal activity aimed at card fraud.

The security company published a new study of the Chinese underground cybercriminal market, which shows a strong interest in ways to capture payment card details.

"Cybercriminals quickly jumped on the noncash payment bandwagon," wrote report author Lion Gu of Trend Micro's Forward-Looking Threat Research Team.

The market for such tools has been strong in countries that heavily use payment cards, so it's probably not surprising that the trade would rise in China.

But it does mean that retailers there may begin face to facing an increasing risk from data breaches that have stung companies such as Target, Home Depot and many others.

One website found by Gu offered point-of-sale devices that had been modified in order to send payment card details captured from a card's magnetic stripe over SMS to fraudsters.

The way the devices are sold -- from the criminals to resellers to retailers and then onto businesses -- means some in the supply chain may not know the devices have been altered. It's also advantageous for the cybercriminals, Gu wrote. 

"Cybercriminals do not even have to physically collect stolen information from installed devices, allowing them greater flexibility and convenience," he wrote.

ATM skimmers are also sold on some business-to-business online marketplaces for around ¥4,000 (US$630). These are usually devices that fit over an ATM's card slot and can record card details. Gu wrote some come with PIN pad overlays, which record a card's secret number.

Another product Gu found is aimed at people who have brief access to a person's payment card, a so-called "pocket skimmer" 

"An unscrupulous store staff member can, for instance, swipe an unwitting customer’s card on a pocket skimmer in order to steal track data that he/she can later use for fraud," he wrote.

The pocket skimmer doesn't need a network connection or an external power supply. It can collect the details of up to 2,048 cards, which can be downloaded to a computer later with a USB cable.

 


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments