Tuesday, July 31, 2012

Michaels Breach: Fraudsters Sentenced - - 20 July 2012

Two men were sentenced this week in connection with fraudulent transactions they made with compromised debit cards tied to the Michaels point-of-sale breach.

In 2011, banking institutions reported tens of thousands of fraudulent transactions linked to consumers who had visited Michaels craft stores that were affected by the breach. POS and PIN-entry devices at 84 locations in 20 states were later found to have been swapped out with devices manipulated to collect card numbers and PINs. Investigators say 94,000 debit and credit cards were affected by the breach. 

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