Retail Store Malware Pinpointed In Holiday Hacking Attacks

Isaac Dabah Despite Largest Mobile Holiday Shopping Season in History, UK Retailers Left 1.5 GBP Billion in Mobile Commerce on the Table





Forty million credit and debit card accounts were compromised and as many as 70 million customers had their personal information stolen. The private security firm iSight Partners reports that computer hackers are using a type of malware, or malicious software called KAPTOXA to steal credit card information where customers swipe or enter their credit card information. CBS While the report does not mention Target specifically, law enforcement sources say the theft at Target helped investigators track and identify the malware. But its not just Target. The report says multiple retailers are being attacked and calls this form of KAPTOXA among the most dangerous ever used. Tiffany Jones, vice president of iSight Partners spoke to CBS News by phone.









"On the whole, retailers with mobile apps have done a remarkable job with most aspects of their mobile shopping experience and this season's numbers certainly show that. However, checkout pages and payment methods have not kept pace with what smartphone devices and services can do today to streamline those processes. This cost the industry over a billion pounds this holiday season. Good news is that we expect that number to diminish as new technologies take root." In addition to revenue lost due to payment friction at the time of checkout, retailers risk losing money on future purchases as well, with 63 percent of consumers less likely to buy from the same company via other purchase channels after abandoning a mobile transaction due to a poor experience, according to the recent Harris poll. While nearly one-half of consumers (47 percent) said they failed to complete a purchase because the checkout process took too long. Other reasons shoppers don't complete a mobile transaction include: 51 percent reported they didn't feel safe entering their credit card information 41 percent said the checkout was too difficult on their device 23 percent said they failed to complete their purchase because it would not go through "As mobile commerce sales increase each year, retailers need to offer a mobile checkout process that caters to on-the-go shoppers," continued Mattes. "Increased security measures to protect consumers and merchants as well as more convenient payment options are essential in creating the seamless mobile experience necessary to drive purchases from the cart to the front door." About Jumio Utilizing advanced computer vision technology, Jumio is a next generation credentials management company offering payments and ID scanning & validation products for mobile and web transactions.





Midland City Woman Becomes 'Target' of Holiday Shopping Security Breach





However, she says that in addition to having her financial information stolen, hackers also took her identity. My credit has been run 17 times since December. 23, she said. In Texas, Nevada, and New Mexico, I had good credit and now its dropped like 28 points. I have a red flag on my credit now because they are saying that it has been run just to buy stuff, so my credit is frozen at this point. Alabama Attorney General Luther Strange has issued a statement about the scam. It stays that anyone who thinks they are a victim of the breach should visit www.target.com/databreach. To help shoppers, Target is offering a free credit monitoring and identity theft prevention plan for those affected.