It may take as little as six seconds for hackers to guess your credit or debit card number, expiry date and security code, say scientists who were able to circumvent all security features meant to protect online payments from fraud.
Exposing the flaws in the VISA payment system, researchers from Newcastle University in the UK, found neither the network nor the banks were able to detect attackers making multiple, invalid attempts to get payment card data.
By automatically and systematically generating different variations of the cards security data and firing it at multiple websites, within seconds hackers are able to get a 'hit' and verify all the necessary security data.
Investigators believe this guessing attack method is likely to have been used in the recent Tesco cyberattack which the Newcastle team describe as "frighteningly easy if you have a laptop and an internet connection."
"This sort of attack exploits two weaknesses that on their own are not too severe but when used together, present a serious risk to the whole payment system," said Mohammed Ali, a PhD student at Newcastle University.
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Exposing the flaws in the VISA payment system, researchers from Newcastle University in the UK, found neither the network nor the banks were able to detect attackers making multiple, invalid attempts to get payment card data.
By automatically and systematically generating different variations of the cards security data and firing it at multiple websites, within seconds hackers are able to get a 'hit' and verify all the necessary security data.
Investigators believe this guessing attack method is likely to have been used in the recent Tesco cyberattack which the Newcastle team describe as "frighteningly easy if you have a laptop and an internet connection."
"This sort of attack exploits two weaknesses that on their own are not too severe but when used together, present a serious risk to the whole payment system," said Mohammed Ali, a PhD student at Newcastle University.
For More Click Here
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