An analysis of credit card abuse in nation today

Technical specifications[ edit ] The size of most credit cards is The card number's prefix, called the Bank Identification Numberis the sequence of digits at the beginning of the number that determine the bank to which a credit card number belongs.

An analysis of credit card abuse in nation today

On March 2, a fresh batch ofstolen credit and debit cards went on sale in a popular underground crime store.

Sally Beauty Hit By Credit Card Breach

Three different banks contacted by KrebsOnSecurity made targeted purchases from this store, buying back cards they had previously issued to customers. The card shop Rescator advertising a new batch of cards. The banks each then sought to determine whether all of the cards they bought had been used at the same merchant over the same time period.

Each bank independently reported that all of the cards 15 in total had been used within the last ten days at Sally Beauty locations across the United States. Denton, Texas-based Sally Beauty maintains some 2, stores, and the company has stores in every U.

An analysis of credit card abuse in nation today

Fugate said Sally Beauty uses an intrusion detection product called Tripwire, and that a couple of weeks ago — around Feb. Unlike other products that try to detect intrusions based on odd or anomalous network traffic, Tripwire fires off alerts if it detects that certain key system files have been modified.

That included bringing in Verizon Enterprise Solutions, a company often hired to help businesses respond to cyber intrusions. All of the banks reported fraud occurring on cards shortly after they were used at Sally Beauty, in the final week of February and early March.

The advertisement produced by the criminals who are selling these cards also holds some clues about the timing of the breach. Stolen cards fetch quite high prices when they are first put on the market, but those prices tend to fall as a greater percentage of the batch come back as declined or canceled by the issuing banks.

Cards stolen in the Target breach have become much cheaper as more of them come back declined or cancelled by issuing banks. The items for sale are not cards, per se, but instead data copied from the magnetic strip on the backs of credit cards.

Armed with this information, thieves can simply re-encode the data onto new plastic and then use the counterfeit cards to buy high-priced items at big box stores, goods that can be quickly resold for cash think iPads and gift cards, for example.

Interestingly, this batch of stolen card data was put up for sale three days ago by an archipelago of fraud shops that is closely affiliated with the Target breach. According to additional reporting by this author, Rescator may be affiliated with an individual in Odessa, Ukraine.

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An analysis of credit card abuse in nation today

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Credit card - Wikipedia