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News

PIN scam shows fraudsters still use traditional methods

ValidSoft : 29 October, 2012  (Technical Article)
ValidSoft comments on the recent Barnes and Noble PIN scam which shows fraudsters still targetting traditional payment methods
PIN scam shows fraudsters still use traditional methods

Commenting on the Barnes and Noble PIN scam, Pat Carroll, the CEO of ValidSoft says:

“News of Barnes & Noble PIN pads having being tampered with shows that fraudsters are not only targeting newer payment channels such as online and mobile, but continuing to target the more traditional point of sale terminals too.

“There is no silver bullet for securing all channels. While security technology improves to protect personal data from hackers, so also does the hackers’ ability to get around such developments. To counteract this, we need to prevent hackers from being able to use or take advantage of any stolen data and this can be done by adopting stronger authentication procedures. What’s needed is a layered approach to security, combining visible and invisible security checks, and using out-of-band, real-time, voice-based authentication and transaction verification processes.”

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