Point of Sale Malware Attacks

Point of Sale Malware Attacks

Criminals target point of sale systems to steal the payment information of many people at once. If your payment information has been stolen, please contact us using the form on this page or call us at 213-212-2202. You may be part of a class action lawsuit.

Background

A point of sale (POS) system is the equipment and processes used in businesses for a retail transaction. A typical POS system includes a cash register, computer, receipt printer, customer display, barcode scanner, and a debit/credit card reader. Modern POS systems are tied to a business’s payment processing, inventory, and customer relationship management functions.

POS systems are targeted by criminals because they are essential in processing financial transactions. A lot of the money entering a business will pass through a POS system. Criminals will target a POS terminal to steal the payment data that passes through the system. This is essentially a matter of altering computer data, not physical theft.

Increasing POS Attacks

Time and technology has allowed POS systems to become more prevalent in small and mid-size businesses. A business owner no longer has to rely on outside parties to provide POS services. POS systems can be purchased outright. POS devices nowadays tend to run on commercially available operating systems like Microsoft Windows. By operating on a standard operating system, POS systems have become easier for hackers to access. And while acquiring POS systems has become easier, a small business’s ability to provide adequate security has not.

Another reason POS attacks are on the rise is because of the increasing demand for prepaid cards. Credit cards have always been targeted by criminals. A prepaid debit card functions just like a normal debit card but is loaded with cash instead of being tied to a bank account. A gift card from your favorite store is an example of a prepaid card. Prepaid cards tend to be harder to trace back to criminals.

Skimming

Skimming is a popular method of stealing POS data. It involves installing additional hardware onto the POS terminal which is then used to read data from payment cards. Skimming requires physical access to the POS and additional equipment. Because of this, it is more difficult to carry out than using malware.

Malware

Malware is another popular method of stealing POS data. Malware is any software used to disrupt computer operation, gather sensitive information, or gain access to private computer systems. It’s how hackers gain access to POS systems. The malware attempts to steal the formatted data that is stored on a credit card’s magnetic stripe. Criminals can then re-encode the track data onto counterfeit cards.

How Does This Affect Me?

The moment you swipe a credit or debit card through a card reader at a store is when your personal and financial information becomes vulnerable. Although you intend to give payment to the store, that payment and all related information may be intercepted by criminals. They use malware to steal personal and financial information.

Being aware that your information may have been stolen is the first step to securing yourself against fraudulent purchases. If you have reason to believe that your payment information has been stolen, please contact us using the form on this page or call us at 213-212-2202. You may be part of a class action lawsuit.

 

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