http://www.theregister.co.uk/2010/10/27/credit_card_flash_attacks/ By Dan Goodin in San Francisco The Register 27th October 2010 Credit card fraudsters may have pocketed as much as $500,000 over the past month by pursuing a new type of attack that exploits a major blind spot in payment processors' defenses, an analyst said. The "flash attacks" recruit hundreds of money mules who go to ATMs throughout the US and almost simultaneously withdraw relatively small sums of money from a single compromised account, according to Avivah Litan, vice president at market research firm Gartner, who follows the credit card industry. They then move on to a new account. At the end of the month, the heists can fetch as much as $500,000. “The resulting cash transactions fly under the radar of existing fraud detection systems — they are typically small amounts that don't raise any alarms,” Litan blogged on Tuesday. She has dubbed the method a “flash attack” because as much as $100,000 can be stolen in as little as 10 minutes. [...] ___________________________________________________________ Tegatai Managed Colocation: Four Provider Blended Tier-1 Bandwidth, Fortinet Universal Threat Management, Natural Disaster Avoidance, Always-On Power Delivery Network, Cisco Switches, SAS 70 Type II Datacenter. Find peace of mind, Defend your Critical Infrastructure. http://www.tegataiphoenix.com/Received on Wed Oct 27 2010 - 22:24:07 PDT
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