Cybercrime in Credit Card Systems: Case Study on the 2014 Korean Credit Bureau Data Leak

Walter. T. Mambodza, Robert T. R. Shoniwa, V. M. Shenbagaraman

Abstract: As technology is advancing Credit card systems have become the corner stone of E-commerce-related payments. People have become dependent on online payment systems. The increase in its importance causes a lot of privacy and security concerns. The researchers performed a business case analysis on the 2014 internal attack on the Korean Credit Bureaus databases focusing on the stolen credit card details of customers. A study on literature review was conducted to identify the possible threats, formulate solutions and develop a framework as a countermeasure from future attacks.

Keywords: privacy, security, threats, ecommerce, framework