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Security flaws in mobile point-of-sale systems spell money trouble

August 09, 2018 / ALFRED NG

Cheaper payment systems may cost businesses less, but they could've wound up costing customers more. That's the word from a pair of security researchers, who discovered that mobile payment systems had vulnerabilities that could let hackers steal credit card info or change the value of what people pay. Researchers Leigh-Anne Galloway and Tim Yunusov of cybersecurity company Positive Technologies revealed their findings at the Black Hat security conference in Las Vegas on Thursday. Point-of-sale terminals, such as credit card readers, are increasingly a common target for hackers, since that's where the money is. Cybercriminals can steal troves of financial data from weak cybersecurity on these terminals, and attacks on the systems have affected millions of people at hotels, stores and restaurants. Attackers are specifically looking at inexpensive card readers, which have exploded in popularity as small businesses like your local food truck use them to accept noncash payments....