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Credit Card Data and Encryption: Big Holes in Protection

Started by bpagrawal, March 31, 2013, 09:03:40 PM

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bpagrawal

Credit Card Data and Encryption: Big Holes in Protection

These days many people fear the theft of credit card data during online purchases or through malicious software on their personal computers. However, the biggest risk to your credit card number probably isn't someone stealing it from you, but rather someone stealing it from one of the merchants you pay everyday or from the payment processor a merchant uses.
In the wake of the largest credit card data heist yet recorded, many are wondering how a twenty-something in Miami (plus his partners) can rob one of the nation's largest card payment processors blind for more than a year. They may also wonder how he could cruise down the highway and remotely detect which big box retailers have credit card transaction data open for the plucking.
The answer would surprise most: credit card data often goes unencrypted at some point along the chain. As it goes from cardholder to merchant to payment processor to credit card company and back, someone getting hold of it at any point while its not encrypted has gold in their hands.
//http://www.lawweb.in/2013/03/credit-card-data-and-encryption-big.html#more