You must have heard about the attack by fraudsters atEarl Enterprises, mustn’t you?They used “malware installed on the POS systems” to get access to 2.15 million credit/debit card info. Do you need chargeback insurance providers to protect your business? This article will tell you who can help you with that.
Breach at Restaurant Operators
The restaurants attacked include Buca di Beppo, Earl of Sandwich, Planet Hollywood, Chicken Guy! Mixology, and Tequila Taqueria. The hackers had captured not only credit/debit card numbers, but alsoexpiration dates, cardholder names, and more, as Earl Enterprises reported in a statement.
Earl Enterprises, which owns the Buca di Beppo, Bertucci’s, Planet Hollywood, and the Earl of Sandwich restaurant chains, and not only, reported that the POS hackershad indeed got access to customers’ sensitive information. Security researchers revealed that over 2 million credit card numbers had been stolen and could be bought online.
Earl Enterprises has alreadystarted investigating internally to find out how this could happen. The company has hired 2 cybersecurity companies to carry out a thorough investigation and is working with law enforcement bodies to learn more on the matter.
At first, the chain restaurant operator remained silent about the number of customers having been affected. However, cybersecurity expert Brian Krebs reported that he’d revealed that 2 million credit/debit card numbers could be found being sold on the dark web.
Fighting Fraud: Chargeback Insurance Providers
We’re living in an exciting world of digital transformation. The new era of Web 3.0 and the Internet of Things (IoT) is revolutionizing the way industries work. According to Per Cisco, the Internet of Things will account for over 30 billion connected devices by 2020.
Given the importance of cybersecurity, what are you doing to protect your business in an appropriate way? Maybe you’re looking for chargeback insurance providers, aren’t you? Well, just consider turning to a reputable payment processor in your field. This is how you can be sure to enjoy the latest fraud prevention and chargeback mitigation services.
To protect your business better, be aware that hackers can infect a number of POS terminals throughmalware. Hackers can do this by just gaining access through a “smart” coffee vending machine at the target place. When it comes to shop owners, theyusually have no idea of such risks.
In fact, this is a growing problem in the years following the 2013 Target data breach. The latter enabled fraudsters to compromise an HVAC vendor’s credentials and steal millions of card credentials.
When dealing with a payment card fraud, as a rule, cardholders aren’t on the hook for any fraudulent activity that’s not left unreported. So, in such cases, it’s critical to report what’s happened in a timely manner.
To sum up, almost every industry has been affected as a result of cyberattacks and data breaches since 1 January 2018. It’s forecast that the number of connected devices across the world will be about 75 billion. So, it’s crucial for both large and small business owners to better protect their IoT devices so to avoid payment processing fraud.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that can best help you with chargeback insurance providers. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.