Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Endpoint

2/23/2018
11:12 AM
50%
50%

Visa: EMV Cards Drove 70% Decline in Fraud

Merchants who adopted chip technology saw a sharp decline in counterfeit fraud between 2015 and 2017, Visa reports.

Merchants in the United States who adopted EMV chip cards saw a 70% decline in counterfeit fraud between Dec. 2015 and Sept. 2017, according to new data from Visa.

The payment card company began shifting to chip cards in 2011 to reduce counterfeit fraud, the most common type in the US at the time. More than 2.7 million merchant locations now accept chip cards, which marks a 578% increase from the 392,000 accepting them in Sept. 2015. Nearly 60% of US storefronts take chip cards.

User adoption has increased as well. In Sept. 2015, there were 159 million Visa chip cards in the US. By Dec. 2017 that number reached 481 million, and 67% of Visa credit and debit cards are chip-enabled. Nearly all (96%) of US payments in December were done with EMV chip cards.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Joe Stanganelli
0%
100%
Joe Stanganelli,
User Rank: Ninja
2/26/2018 | 9:30:22 PM
Re: 96%?
@Dr.T: Because (1) many consumers are still confused about EMV technology and (2) the processing of EMV chips takes much longer than standard swipe-card technology, many retailers have purposely declined to activate their EMV setups so as to keep their business moving more smoothly and more quickly. Even some major retailers purposely delayed their rollouts until such a time as consumers became more used to chip-insertion, letting consumers figure things out and scratch their heads on other retailers' time.
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
2/26/2018 | 9:28:03 PM
Re: EMV
@Dr.T: Why do you hope this?

What I'm trying to communicate is that EMV is not invulnerable and bears its own vulnerabilty issues and potential exploits. Once you have much more broader penetration of EMV overall, you'll start seeing a greater focus on EMV attacks.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 8:04:46 PM
96%?
Nearly all (96%) of US payments in December were done with EMV chip cards. 96% is a surprisingly high. Some of these cards have both magnetic strip and chip, they may still be using swipe.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 8:01:21 PM
Re: EMV
Expect this figure to spike back up once there is broader use/acceptance/deployment of EMV tech. That is my hope too, they need to stop providing magnetic cards to speed this adaption.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
2/26/2018 | 7:59:31 PM
chip cards
Glad to hear chip card utilization going up in US, we are way behind Europe on this.
Joe Stanganelli
50%
50%
Joe Stanganelli,
User Rank: Ninja
2/25/2018 | 9:33:52 PM
EMV
Expect this figure to spike back up once there is broader use/acceptance/deployment of EMV tech. Hackers and attackers go for low-hanging fruit -- but EMV is hardly an impenetrable technology, security-wise.
Edge-DRsplash-10-edge-articles
7 Old IT Things Every New InfoSec Pro Should Know
Joan Goodchild, Staff Editor,  4/20/2021
News
Cloud-Native Businesses Struggle With Security
Robert Lemos, Contributing Writer,  5/6/2021
Commentary
Defending Against Web Scraping Attacks
Rob Simon, Principal Security Consultant at TrustedSec,  5/7/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-16632
PUBLISHED: 2021-05-15
A XSS Vulnerability in /uploads/dede/action_search.php in DedeCMS V5.7 SP2 allows an authenticated user to execute remote arbitrary code via the keyword parameter.
CVE-2021-32073
PUBLISHED: 2021-05-15
DedeCMS V5.7 SP2 contains a CSRF vulnerability that allows a remote attacker to send a malicious request to to the web manager allowing remote code execution.
CVE-2021-33033
PUBLISHED: 2021-05-14
The Linux kernel before 5.11.14 has a use-after-free in cipso_v4_genopt in net/ipv4/cipso_ipv4.c because the CIPSO and CALIPSO refcounting for the DOI definitions is mishandled, aka CID-ad5d07f4a9cd. This leads to writing an arbitrary value.
CVE-2021-33034
PUBLISHED: 2021-05-14
In the Linux kernel before 5.12.4, net/bluetooth/hci_event.c has a use-after-free when destroying an hci_chan, aka CID-5c4c8c954409. This leads to writing an arbitrary value.
CVE-2019-25044
PUBLISHED: 2021-05-14
The block subsystem in the Linux kernel before 5.2 has a use-after-free that can lead to arbitrary code execution in the kernel context and privilege escalation, aka CID-c3e2219216c9. This is related to blk_mq_free_rqs and blk_cleanup_queue.