DETROIT—More experts are warning consumers not to store their payment information on a retailer’s website—and to brace for a new way crooks will target their money this holiday season.
A report on the Detroit Free Press warns consumers that fraudsters are going after the databases of online merchants and trying to engineer an account takeover.
“The crooks don't need to steal your credit card or debit card number. Instead, they use information found elsewhere, maybe via a breach, to gain access to your online account with a given retailer. Once they're in, the crooks could get access to the credit card you had on store with the online retailer,” the newspaper said.
As many cyber security experts have stated, crooks know that people re-use passwords.
“So they can hack into accounts using passwords obtained via other breaches,” the newspaper said.