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buy clone cards, the United States transitioned from utilizing insecure magnetic stripe in credit and debit cards to more secure chip-and-PIN cards governed by the EMV standard. That’s a significant step toward improving transaction security and reducing card fraud, and one might conclude that cloning-based card fraud is on its way out.
Our experts recently uncovered that a group of Brazilian cybercrooks has developed a method to steal card data and successfully clone chip-and-PIN cards. Our specialists presented their findings at the Security Analyst Summit 2018, and in this brief piece, we will attempt to summarize that difficult work.
ATMs with jackpots and beyond
Our researchers discovered a modified version of this malware with some extra characteristics that was used to infect point-of-service (POS) terminals and capture card data while researching malware for ATM jackpotting used by a Brazilian gang called Prilex.
This malware was capable of changing POS software, allowing a third party to intercept data sent from a POS to a bank. That is how the thieves received the card information. When you pay at a local store with an infected POS terminal, your card information is immediately sent to the thieves.
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