New malware has reportedly been operationalised by hackers and it is stealing victims' credit card data. Dubbed as PoS (two point-of-sale) malware, it has already stolen information related to over 167000 credit cards from multiple payment platforms. As reported by thehackernews.com, Singapore-headquartered cybersecurity company Group-IB has shared that the stolen data dumps could profit the hackers by as much as $3.34 million when sold on underground forums.
How does PoS malware work?
As explained by Group-IB, Point-of-sale (POS) malware is a type of malicious software designed to attack PoS terminals with an aim to steal payment data stored on magnetic stripes (magstripes) on the back of bank cards. The website noted that the PoS malware has become less popular due to the protection mechanisms embedded in modern credit card processing systems in most countries, but it’s still operative. It is still a severe threat for individuals and businesses in the abovementioned regions as well as the places where credit cards with magstripe are used for the payment. As per the report, the USA is a desirable target for threat actors stealing magstripe dumps.
Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.
Copyright © HT Media Limited
All rights reserved.