http://www.thenational.ae/article/20080916/BUSINESS/75296675/1041/OPINION By Hugh Naylor and H Michael Jalili The National September 16. 2008 An investigation by financial institutions into a recent security breach of private ATM card data points to the problem originating with one UAE-based bank, according to people familiar with the investigation into the problem. Sensitive information including personal identification numbers (PINs) and data from the black magnetic strip on the back of cards was stolen from the bank and then used to make large numbers of fraudulent transactions, mainly from other countries. “We’re quite close to having completed the case for the prosecution,” said one banker, who spoke only on the condition neither he nor his bank be identified. “And we have a fairly clear idea of how this has occurred.” Bankers believe that thieves breached a network that banks use to share ATM data. That exposed most, if not all, banks in the UAE to the fraud. [...] __________________________________________________ Register now for HITBSecConf2008 - Malaysia! With a new triple-track conference featuring 4 keynote speakers and over 35 international experts, this is the largest network security event in Asia and the Middle East! http://conference.hackinthebox.org/hitbsecconf2008kl/Received on Thu Sep 18 2008 - 01:39:45 PDT
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