Worldwide Wave of Debit Card Fraud
The continued refusal by major credit card associations and financial institutions to identify the source of a data compromise that has resulted in a wave of debit card fraud worldwide is fueling concerns about the scope of the problem.
It is also shining a spotlight on what may be growing attempts by criminal gangs to compromise PIN-based card transactions, which have until now been considered extremely secure, analysts said.
The spate of recent breach disclosures suggests a shift in focus by criminals from credit card fraud to PIN-based debit card fraud, said Mike Urban, director of fraud technology operations at Fair Isaac, a Minneapolis-based company that is helping investigate the recent incidents.
