Credit cards are becoming truly popular in today 's society; therefore, the avenue for criminals to take advantage is great and more criminals are creating ingenious ways to take a part of this industry. Criminals are awaiting to find a small window to interact and send attacks to business organizations such as retail stores that store consumers ' data into a secure database.
Attacks will continue to affect society and organizations are losing billions of dollars trough these types of attacks. Not everyone knows, consumers will eventually cover some of the cost, financial organizations lose on these attacks (Segal et al, 2011).
According to Segal et al (2011) "To understand the structural incentives of the credit card industry, it is …show more content…
The manual process, this process thieves retrieve data through this process by manually login to a computer or system that contains the data, this process is an old but still in used process, not too sophisticated, but still has an impact to consumer and financial organizations. The other method is the most sophisticated process, here, intruders, hackers and thieves execute a malware attack in to systems that contain the desired information. Once the infection takes place, hackers control the sophisticated and complex programs to send specific information to its target server from its target database system. This process is often called "Middle Man." The Malware wait to copy information as soon as the information is available (Segal et al, …show more content…
Here is a example of how an authorized purchases are made using counterfeit cards are used. Information is retrieved and copied to a counterfeit card, this method is called "Card-Present" transaction. Here is where small to middle retail stores (special small shops) fail in use regulations. At times no identification is requested to used a credit card to make purchases, unauthorized individuals used ghost or counterfeited cards to make purchases and they do not leave any trail behind (Segal et al,
Attacks will continue to affect society and organizations are losing billions of dollars trough these types of attacks. Not everyone knows, consumers will eventually cover some of the cost, financial organizations lose on these attacks (Segal et al, 2011).
According to Segal et al (2011) "To understand the structural incentives of the credit card industry, it is …show more content…
The manual process, this process thieves retrieve data through this process by manually login to a computer or system that contains the data, this process is an old but still in used process, not too sophisticated, but still has an impact to consumer and financial organizations. The other method is the most sophisticated process, here, intruders, hackers and thieves execute a malware attack in to systems that contain the desired information. Once the infection takes place, hackers control the sophisticated and complex programs to send specific information to its target server from its target database system. This process is often called "Middle Man." The Malware wait to copy information as soon as the information is available (Segal et al, …show more content…
Here is a example of how an authorized purchases are made using counterfeit cards are used. Information is retrieved and copied to a counterfeit card, this method is called "Card-Present" transaction. Here is where small to middle retail stores (special small shops) fail in use regulations. At times no identification is requested to used a credit card to make purchases, unauthorized individuals used ghost or counterfeited cards to make purchases and they do not leave any trail behind (Segal et al,