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March 7, 2017

Payment data may leak due to hackers penetrating IT systems of businesses

Payment data may leak due to  hackers penetrating IT systems of businesses

Data leaks (or data breaches) occur when hackers penetrate the IT systems of companies that process payments. Once the hackers get into these IT systems, they can intercept information such as credit card numbers.

In 2014, a massive data leak of private and business clients occurred at JP Morgan Chase; clients’ details were accessed, but their credit card information was not. Earlier in 2013, Target was hacked; in that case, credit card information was leaked. The table below lists some of the largest data breaches in recent years.

Company Date Number Type of records
Yahoo 2013 1,000,000,000 Account information
JP Morgan Chase 2014 76,000,000 Names, addresses, phone numbers, emails
Target 2014 70,000,000 Credit card information
Home Depot 2014 56,000,000 Credit card information
Weebly 2016 43,000,000 Account credentials

Sources: Yahoo [1]; JP Morgan Chase [2,3]; Target [4,5,6]; Home
Depot [7]; Weebly [8]; list of data breaches [9].

Reference

  1. Yahoo discloses new breach of 1 billion user accounts, new york times, december 15, 2016.
  2. Reuters. Jpmorgan hack exposed data of 83 million, among biggest breaches in history.
  3. New York Times. Jpmorgan chase hacking affects 76 mil- lion households.
  4. The Huffington Post. Target hacked: Retailer confirms ‘unautho- rized access’ of credit card data.)
  5. CNN. Target settles for $39 million over data breach.
  6. Wikipedia. Target now says 70 million people hit in data breach, the wall street journal, january 10, 2014.
  7. Krebs on Security. Banks: Credit card breach at home depot.; September 2014.
  8. TechCrunch. Weebly hacked, 43 million credentials stolen.; October, 2016.
  9. Wikipedia. List of data breaches; 2017.

Credits : Image by Ulrike Leone from Pixabay