Hackers crack Middle-Eastern credit network

I was interested to read over the weekend that a group of professional hackers are thought to have cracked into a credit server network in the United Arab Emirates in order to make unauthorised credit and debit card purchases in the US.

The reason why they do this, of course, is that the US rarely uses PINs for international cards, meaning that - even if the main card is protected with chip, the security is about as useful as a chocolate teapot when it comes to protection in the US.

According to the newswires, the fraud only came to light when staffers at the US Embassy and a few other peeps realised some of the charges on their accounts weren't their own.

The problem is made worse, it seems, as many EFTPOS terminals in the Middle East print the entire card details on the slip, making it dead easy for fraudsters to lift the data.

Conclusion? As only as there's a place in the world that uses mag stripes on cards rather than chips, the security of plastic payment cards will never be secure...