Security & Fraud

In Latest Hacking News, Best Buy Breached?

Hacking 24/7 when it comes to [24]7.ai? Seems that way.

In a week that saw possible data breaches at Delta, Kmart and Sears, Best Buy joins the parade of victimized firms.

Data pilfered may have spanned names, credit card details and other important bits of personally identifiable information.

There’s a common thread that runs through the roster of companies that may have been exposed. Best Buy said it was hit by the same breach because the firm used customer service software that came from chat provider [24]7.ai. CNET noted that Best Buy had been using the software during the roughly two weeks [24]7.ai had been hit with malware.

This time around, reported CNBC, Best Buy consumers may have been exposed between Sept. 27 and Oct. 12, which means that data belonging to “a number of Best Buy customers” may have been breached. The company did not venture to estimate the number of individuals possibly affected. However, the retailer said it will contact those who were impacted, and those consumers will not be held liable for any fraudulent charges.

Said Best Buy in a statement, “As best we can tell, only a small fraction of our overall online customer population could have been caught up in this … incident, whether or not they used the chat function” tied to the software.

As was reported earlier this week, [24]7.ai discovered malware in its software that was collecting payment data last October. Digital Trends reported the service provider “implemented a fix immediately,” with a subsequent investigation utilizing forensics and law enforcement officials that lasted between November of last year to March of this year.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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