11 August 2012
Thousands of chip and PIN terminals, found in various shops and restaurants across the UK, will now have to be reprogrammed, according to the Telegraph. An information security consultancy firm uncovered the flaw in some chip and PIN terminals, leaving them open to hacking. After purchasing a second-hand terminal from eBay, they used the code to programme a fake card complete with its own PIN, and uploaded software which allows them to re-programme the reader. SmartDebit’s Operations Director, Rhys Daniel, has over 20 years’ experience in the finance sector commented on the latest risk to the card payment industry “There are currently around one million chip and PIN readers operational in the UK today, processing about 800 million transactions every month. The level of sophistication involved with this new risk is alarming, however the industry products are rigorously tried and tested in order to fully protect the consumer against fraud, as well as continual ‘ethical hacking’ practices carried out by a numerous info security firms”.
SmartDebit take the security of their sensitive data as well as their clients’ very seriously and have gone over and above the required stipulations to operate as a Direct Debit Bureau. As well as scoring top ratings of ‘Excellent’ in all five areas of their Bacs audit, the Bureau added ISO 27001 certification to their list of accreditations in January of this year.
Smart Debit™ are the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebsmartdebit/cardfraud/prweb9784413.htm