Page 2 - Chip Readers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Cloning, where someone takes stolen account numbers and shops at a store. that's a good step. we have a huge chicken and egg problem. say target spends that $100 million to put in chip readers, who wants to be the first one to drop all that coin to update these systems? banks have to do it first, retailers have to do it first. you're going to look like a sucker if everybody doesn't do it. >> luke, what does the senate judiciary committee want to hear? they have a lot of folks heading up there to give their testimony. just to name several, federal trade commission, all being called to ed up the...

Flanagan. clay, let's start start with this target hack. how do you pull this off? how do you get -- i genuinely don't understand. how do you get 1,800 card readers across the country to start feeding you their data? >> this is a really sophisticated operation. i've been studying the history of this for some time now, and the way that they did this is pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we do know is they operated sort of out of band, which means that they were able to get more data off of the credit c...

Government, and jessica flanagan. clay, let's start with this target hack. how do you pull this off? how do you get -- i genuinely don't understand. how do you get 1,800 card readers across the country to start feeding you their data? >> this is a really sophisticated operation. i've been studying the history of this for some time now, and the way that they did this is pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we do know is they operated sort of out of band, which means that they were able to get more data o...

Pretty significant. nobody knows quite sure how they did it. i mean, was it hardware, was it software? on the chip readers? what we do know is they operated sort of out of band, which means that they were able to get more data off of the credit card than even target itself was storing. so that means that they had at least some form of access to the physical card readers inside of the store. whether they had physical access or software access, we don't know yet. the other part of this is, these credit card hacks take very few people to run. so you just mentioned one that cost -- or that had 160...

Latest updates on this topic from reliable sources.