3. How does a virus hack Credit/ Debit card?
• Targets the Point Of Sale (POS) system.
• “Backoff” is spreading through computer
networks which use Windows as their operating
systems.
• It allows an attacker to infect the systems with
the POS so as to steal customer payment cards
data like card holders name, account number,
expiration data & CVV code.
• This virus is able to capture keystrokes and
communicate with the command and control
server for further hacking.
4. Tips to prevent Credit /Debit card
fraud
• For any online transaction, make sure that the website is a trusted one.
• Don't click on any unknown link in your mail, it could be phishing mail.
• Make sure that you get new credit card in sealed condition.
• Memorize the PIN number of your card and DO NOT write it anywhere
on your card.
• Do not share your personal account information with anyone else.
• Do not give any information to persons seeking credit card information
over phone
• Notify your bank / credit card issuer if you do not receive the monthly
credit card statement on time. If a credit card is misplaced or lost, get it
cancelled immediately.
• Do not provide photocopies of both the sides of the credit card to
anyone. The card verification value (CVV) which is required for online
transactions is printed on the reverse of the card. Anyone can use the
card for online purchases if the information is available with them.
5. RBI’s cyber security norms are a
nightmare for online business
• RBI made it mandatory for all banks to put
additional authentication or validation on the
credit cards.
• RBI’s regulations on cyber security does not allow
India-based companies to store credit card
numbers on the website.
• Due to these norms companies are not able to
track the card details for payment.
Editor's Notes
POS software systems that enable you to use add-on devices at your checkout stations, including electronic cash drawers, bar-code scanners, credit card readers, and receipt or invoice printers.
A founder of another start-up, which provides customer help-desk support for computer-related issues, says his firm faces problems constantly with regard to accounts having insufficient balance, leading to high payment failure rates. This problem acquires another dimension as start-ups are tied to a particular payment gateway.
