Brazil is known for many things including its breath-taking beaches, Sugarloaf Mountain, and the iconic 98-foot tall Christ the Redeemer statue. Unfortunately, it’s also internationally ranked as one of the top five countries for cyber crime. Although based in Brazil, the group frequently targets U.S. assets.
FireEye, developers of a cyber security platform, investigated the operations of a Brazilian cyber crime group responsible for obtaining compromised credit card information for financial gain. It seems payment card fraud is an extremely profitable line of work.
The group acquires compromised credit card information via purchasing from online dumps, hacking vulnerable merchant websites, or sabotaging POS terminals. They use the credit card information to make purchases online, clone into physical cards, or make ATM withdrawals.
The outlook is not promising on this type of crime. As new defenses are put up, cyber criminals continue to find other, more vulnerable ways to compromise sensitive payment data to maintain their profits.