100 million and possibly more credit/debit cards breached in the largest data breach in the world ever. Bravo. Brilliant. High five and congratulations to the hackers where ever they may be. I’m not proud, but certainly impressed.
How does this happen? Flaws in the system of designing software, old technologies used for new transactions, unsecured networks, inside jobs, etc, list goes on and on and on. The real reason is retailers and others have to be PCI compliant, which in itself is good, but does not solve the problem of credit card fraud. Until PCI adopts solutions that solve credit card fraud then we will still be amazed when 100 million cards are stolen. When industry adopts a secure solution (and they do exist), then data breaches of this kind will be a non-issue.
Robert Siciliano www.IDTheftSecurity.com Identity Theft Speaker and Expert on Personal Security.