Credit card payment systems touch all of our lives, and because of this there’s a lot riding on the security of that technology. The best security research looks into a widely deployed system and finds the problems before the bad guys do. The most entertaining security presentations end up finding face-palmingly bad practices and having a good laugh along the way. The only way to top that off is with live demos. [Karsten Nohl], [Fabian Bräunlein], and [dexter] gave a talk on the security of credit-card payment systems at the 32nd annual Chaos Communications Congress (32C3) that covers all the bases.
While credit card systems themselves have been quite well-scrutinized, the many vendor payment networks that connect the individual terminals haven’t. The end result of this research is that it is possible to steal credit card PINs and remotely refund credits to different cards — even for purchases that have never been made. Of course, the researchers demonstrate stealing money from themselves, but the proof of concept is solid. How they broke two separate payment systems is part hardware hacking, part looking-stuff-up-on-the-Internet, and part just being plain inquisitive.