POS malware- Your business might be at risk
If you are a business owner that uses a POS system for receiving payments, you should be cautious about the dangers of point-of-sale malware and various threats associated with it.
Malware is not very popular and is currently on the rise, however, if your system isn't protected, your businesses can be at risk.
Threat actors made the malware especially to attack POS systems to steal sensitive information like PINs, credit card numbers, and other personal data. The malware can be installed on any device that interacts with the POS system, this includes handheld devices, computers, and payment terminals.
What is POS malware?
POS malware is software specifically created to steal customers' personal data via point-of-sale (POS) devices. The malware steals payment card info, this includes credit and debit card numbers, CVV codes, and expiration numbers.
All of this information is stolen while your payment transaction is under process on the POS machine. The stolen data can be exploited for fraud purchases and identity thefts.
POS malware is distributed via compromised networks and USB devices connected with the POS systems. It can also be spread using e-mails or other means of the internet.
How does the POS malware work?
POS malware operates via attacking vulnerabilities in the POS system and software associated with it. The malware archives this by abusing weaknesses in the system, like poor security measures and weak passwords.
POS malware takes the following steps to attack your business:
- Getting access to your system
In the initial stage, the threat actor gains access to the victim system through an infected network or USB device. The access is achieved through methods like unsecured WiFi networks, phishing, or weak/predictable passwords.
- Installing the Malware
After the threat actor gains access to the victim system, they deploy a POS malware into the targeted device (POS system). It can be a manual or remote process.
- Threat actor starts collecting data
After the POS malware is installed, it hides secretly in the system and starts collecting data from customers' payment cards. The info stealing is done when the card details are stored in the system's RAM. It's the only time when data is encrypted.
- Harvesting the collected data
In the final stage, the threat actor harvests the collected card information for identity theft or fraudulent purchases. In some instances, they extract this data to a remote server where it is either sold or used for other criminal activities.
How to protect your business from POS malware?
- Create and implement robust security policies to protect yourself from threat actors.
- Use two-factor authentication (2FA), this ensures additional verification steps.
- Check and verify network and device security
- Lookout for suspicious activities
- Inform and educate employees, and provide them proper POS training.
- Use security software like antivirus to protect your business from external threats.
