Hackers are getting increasingly brave about interfering with repositories of cardholder data, not only stealing information from systems but also inserting malicious code into them to gain access to enormous sums of cash.
The latest ATM heist, affecting 130 ATMs worldwide in November 2008, may renew calls from other countries for the United States to opt in to the EuroPay MasterCard Visa (EMV) standards, but the country is unlikely to heed their calls.
The November crime revealed that the current agreements between electronic funds transfer (EFT) networks and card issuers do not provide the rules-based structure to stop the same card number from being processed 120-140 times within 30 minutes.
The worldwide theft in November required true criminal masterminds who overcame the hurdles of data acquisition, transaction limits, short time frames, and coordination of 100 people in the fashion of a con movie like "Oceans Eleven."
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