Technology content trusted in North America and globally since 1999
8,163 Reviews & Articles | 61,665 News Posts

Increase in card use ensures China's payment fraud rises

Trend Micro says that Chinese card fraud is becoming more common as criminals are tapping into supply lines
By: Chris Smith | Hacking & Security News | Posted: Nov 24, 2015 7:35 pm

With China joining the rest of the world in moving away from hard currency towards various card options, Trend Micro says that cyber criminals are beginning to run rampant, stepping up their efforts in card fraud.




As part of a new study, Trend Micro pinpoints that the strong Chinese cyber criminal market has shown particular interest in gathering card payment information online. Trend Micro Forward-Looking Threat Research Team member, Lion Gu, wrote this lengthy report and referred to the growth in the market as an obvious fraud issue. With more users comes more risk of crime, it's not exactly rocket science.


What isn't obviously is exactly how this crime will come about. It's not just dodgy online stores that are being used, some machines are being modified to illegally store and send information, says Gu. Due to the machines passing through many hands and it being sometimes hard to track exactly who has touched them and when, there's a large possibility that criminals are placing these information capture facilities on products at some stage through the supply line, without the end-user or buying business being aware.


Related Tags

Got an opinion on this news? Post a comment below!