Credit card theft is a rampant problem. As quickly it seems that we develop new ways of protecting credit card data, criminals are developing new techniques to bypass those same security measures. On Friday March 12th, Marketplace aired a new episode titled “Who’s Minding the Store?” describing some of the new techniques being used to gain access to credit and debit card information. The episode features computer forensics and security expert Ryan Purita of Sherlock Forensics.
You may be surprised to find out just how easy it is to get credit and debit cards along with other information. One way is to steal actual point of sales terminals. These are the machines used to pay for your goods at various retailers, restaurants, and stores. Once a thief has possession of a PoS terminal, they can access whatever information it contains. What may shock people is that there are currently no disclosure laws within Canada that require companies to disclose security breaches or data loss. If your credit card data is stolen from a PoS terminal, you may never know.
Computer forensics and data security are essential to corporations that handle customer’s financial data. Companies should invest in encryption just as they would with insurance or CCTV systems, according to Purita. To learn more about these new forms of credit and debit card theft, view the episode online anytime at http://www.cbc.ca/marketplace/.