Cybercriminals Exhibit Interest in Targeting Contactless Payments in Latin America

Unlike cash or traditional credit or debit cards, contactless payment methods enable users to make purchases by simply tapping or scanning their mobile device or payment card at a point-of-sale (POS) terminal. These methods have grown particularly popular in Latin America (LATAM) in recent years due largely to their ease-of-use, regional banking trends, and banking institutions’ global expansion efforts. However, this popularity is also attracting unwanted attention from cybercriminals in LATAM seeking to engage in various fraudulent schemes.

December 10, 2018