FBI Warns More Retail Data Breach Attacks Are Coming

by William White | January 24, 2014 11:26 am

The FBI has issued a warning that more data breach attacks[1] will be hitting retailers in the future.

data-breach-fbiThe FBI says that it expects to see more data breaches, like the one that hit Target (TGT[2]), after it discovered 20 similar incidents in the last year. As a result, the agency sent out a warning to retailers on Jan. 17 alerting them to the threat, reports Reuters.

The data breach attacks occur when hackers use memory-parsing software –a.k.a a RAM scraper– to collect data from credit and debit cards when a customer slides them at a cash register. The software works by retrieving the information on the magnetic strip of a card while it’s in plain text form. While Ram scraper technology has been around for awhile, it’s starting to see a raise with upgrades making it harder to detect, Reuters notes.

More Retail Data Beach News

Endnotes:
  1. data breach attacks: http://www.reuters.com/article/2014/01/23/us-target-databreach-fbi-idUSBREA0M1UF20140123
  2. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  3. Neiman Marcus Data Breach: 1.1M Credit Cards Hacked: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CFUQqQIwAA&url=http%3A%2F%2Finvestorplace.com%2F2014%2F01%2Fneiman-marcus-data-breach%2F&ei=cJHiUtD9LdDvoASA-ICADA&usg=AFQjCNE3HNVwS7R9Jd41wY_8gwqNHTnc9A&sig2=duaYnlsIkTCG3VY9zB97LQ&bvm=bv.59930103,d.cGU&cad=rja
  4. Identity Theft Alert: 40M Target Customers Involved in Massive Data Breach: http://investorplace.com/2013/12/identity-theft-alert-40m-target-customers-involved-massive-data-breach/#.UuKRfNIo74Y
  5. TGT Stock – Target Data Breach Much Worse Than Reported: http://investorplace.com/2014/01/tgt-stock-target-data-breach/#.UuKRfdIo74Y

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