Hackers have become more adept at creating methods to steal sensitive information that will yield a lucrative payday when sold on the dark web. Personal details fetch a considerable amount of money and are used to steal identities and access bank accounts. According to a cybersecurity research report, if a seller supplies full details about a card and its owner, it could yield between $30 and $45, depending on the region the buyer is from. Purchasers from the European Union will pay more for the information than U.S. buyers, for example.
The promise of quick monetary gain makes payment card malware that much more enticing for attackers. According to the “2016 Data Breach Investigations Report” by Verizon, 89 percent of data breaches had a financial motive. As payment card malware continues to hit retail chains across the U.S., it serves as a critical reminder for organizations to secure their systems and protect their customers.
Customer Data Exposed
Consumers are less likely to go to an organization that has been hit by malware or had personal data exposed. At the end of May 2017, fast-food chain Chipotle reported that nearly all of its 2,000 restaurants had been affected by a security breach. The malware was designed to access payment card data from point-of-sale devices, gathering information like card number, expiration date, verification code and cardholder name, Merced Sun Star reported. While the malware is now removed, new strains are developed quickly and could cause even more damage. The organization is working