Retail cybercrime may spike due to Equifax hack

Sept. 22, 2017

Consumers and retailers are likely to be dealing with the aftermath of the major hack at credit reporting firm Equifax.

The hackers took data that can be used to hack shopper profiles on retail sites, according to a New York Post report.

The data is an easy way for hackers to take over accounts as it provides names, emails and credit card data.

"Consumers tend to use the same email and password for all of their accounts, and fraudsters are running millions of bots on those accounts to try to log in as the consumer," Michael Reitblat, chief executive of Forter, a fraud protection service, told the Post. "If you have any credit cards on file or loyalty points, they can monetize them."

Security experts are warning retailers and consumers to keep a close eye on credit card account activity.


Topics: Customer Experience, Data Security


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