General Information: SAN FRANCISCO (AFP) - Hackers on Thursday showed how to turn the latest model Square mobile payments readers into crime tools.
Independent security researchers and self-described hackers Alexandrea Mellen and John Moore were at the Black Hat computer security conference in Las Vegas to demonstrate hacks targeting Square software or the dongle that plugs into audio jacks to read credit card magnetic strips.
"We converted a Square Reader into a credit card skimmer in under 10 minutes," Mellen told AFP.
Response: I feel that this is very dangerous as they have just turned the latest model Square mobile payments readers into something that can read credit card magnetic strips. They managed to did this all in just ten minutes which is extremely fast. The tools that they used for it is also available and very simple. Once the hackers managed it, they would be able to obtain unscrambled information from swiped credit cards and can be sold to the black market. This would be bad for the credit card holders as their information will be abused in other ways and unless they are closely watching their credit card statements, they might not be able to notice that their cards information is already stolen. Although they mentioned that it is not easy to hack it, it is still possible for it to happen as long as the hacker is professional. I think that the company should fix it soon as it would be a disaster for the credit card holders should their information be stolen.