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.

FBIseal FBI Warns More Retail Data Breach Attacks Are ComingThe 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

  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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