Australian Business Smashed With Stolen UK Credit Cards

International criminal syndicates are using stolen UK credit card data in Australia because it is yet to adopt modern transaction security measures.

Cybercrime analyst Kimberly Zenz, of US-based firm iDefense, says the adoption of the EMV chip and pin credit card security standard in Europe means criminal syndicates are having difficulty using stolen card data there. But the same European card information can be used to rip off Australian merchants because the extended authentication made possible by EMV is unavailable here.