Thursday, September 29, 2016

Credit Card Fraud & EMV Security Chip

Mobile banking fraud in Europe has increased by a factor of 20; a trend that could follow in the U.S.  Credit card fraud has hit critical mass in the U.S., causing a push in technology in new mobile apps, which could create a virtual playground for criminals.  A recent surge in the volume of U.S. credit card fraud has forced industries to adopt the European EuroPay, MasterCard and Visa (EMV) card system.  The resistance to the EMV conversion will result in higher merchant costs and ATM manufacturer resistance, which has prompted a growth in mobile banking apps.

Publication date:                        26 September 2016

Handling requirements:              Traffic light protocol (TLP) GREEN

Attribution/Threat Actors:          Unknown at this time

Actor Type:                                 Adversary capabilities have been assessed as Tier III*

Potential Targets:                        USA

Past Reporting:                            Red Sky Alliance: DOC-3952, DOC-4265

*Practitioners who focus on the discovery and use of unknown malicious code, are adept at installing user and kernel mode root kits10, frequently use data mining tools, target corporate executives and key users (government and industry) for the purpose of stealing personal and corporate data with the expressed purpose of selling the information to other criminal elements. 

The full attribution report has been published in its entirety in the Red Sky Alliance portal.  For more information please contact the lab directly at 844-4-WAPACK, 603-606-1246, or

About Wapack Labs

Wapack Labs, located in New Boston, NH is a Cyber Threat Analysis and Intelligence organization supporting the Red Sky Alliance, the FS-ISAC and individual organizations by offering expert level targeted intelligence analysis answering some of the hardest questions in Cyber.  Wapack Labs’ engineers, researchers and analysts use deep analysis techniques and visualization to design and deliver transformational cyber-security analysis tools that fuse open source and proprietary information.  The intelligence derived from these tools and techniques serve as the foundation of Wapack Labs’ information reporting to the cyber-security teams of its customers and industry partners located around the world.