Shockingly, a majority of credit card holders residing in the USA are still using the default password for accessing their personal bank accounts, thus making it awfully easy for hackers to rob them.
The default passcodes of credit cards are either 166816 or Z66816, since 1990!
After reading this article, it gave me a pretty clear picture about how massive and successful retailers such as Target and Walmart keep losing stored data of their customers. With the aforementioned passcodes, the hackers are able to steal information of innocent people like us that work hard for money every day for a living.
Charles Henderson, the executive of Trustwave cybersecurity firm that mainly instigated this research found out almost 90% of credit card readers are using these archaic passwords. Hackers then plant a malware for gaining full authority over credit card data. He exhibited his findings at the RSA cybersecurity conference held in San Fransisco last week.
The designers of these machines sell these machines to the vendors, who in turn sell them again to the retailers. Unfortunately, nobody takes the trouble of changing these passwords, stated by Henderson to CNNMoney.
“No one is changing the password when they set this up for the first time; everybody thinks the security of their point-of-sale is someone else’s responsibility.”
“We’re making it pretty easy for criminals.”
Charles Henderson also stated,
“It shows you the level of access that a lot of people have to the point-of-sale environment, frankly, it’s not as locked down as it should be.”
These machines are designed by Verifone who urged the retailers to change the passwords the instant they place the readers within their premises.