In wake of data breaches, security expert warns more to come - WFXG FOX 54 - News Now

In wake of data breaches, Internet security expert warns more to come

ATLANTA (CBS46) -

As major American companies struggle to control and recover from massive credit and debit card data breaches, one Internet security expert at Georgia Tech said future data breaches are almost certain to happen.

In fact, they likely already have, but haven't yet been discovered.

"A network, right now unknown, unfortunately, has been breached," said Paul Royal, the co-director of Georgia Tech's Information Security Center. "There will be fallout from that. Skilled attackers are everywhere. And if there aren't the appropriate mechanisms in place to discourage these activities, they are going to continue."

Within a matter of a few moments, Royal was able to pull up a rogue credit card website, offering stolen credit cards from Home Depot and other major companies for sale at $25 or $30.

"There is a market for this, there is competition," Royal said. "It doesn't take a skilled professional to find a website like this."

He said consumers must re-think how they monitor their spending, checking their transactions online every week, perhaps even every day. Royal also recommends only using credit cards for point of sale purchases, rather than debit cards.

"The liability associated with their misuse is greater," Royal said.

However, a spokesman for Wells Fargo said it, and other big banks, will reimburse most, if not all, any fraudulent expenses on credit and debit cards, provided the fraud is reported within two months.

After that, the consumer may be responsible for all activity linked to a debit card.

Copyright 2014 WGCL-TV (Meredith Corporation). All rights reserved.

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