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Samsung admits mobile payment security flaw


31 Aug, 2016 09:00 am

Samsung denied the existence of a Samsung Pay security vulnerability revealed during the recently held Black Hat security conference, but later acknowledged that its payment system represented a security risk.


© Fotolia

Samsung detailed how its Samsung Pay token can be captured after it said claims about its security were "simply not true," while adding that the risk was "acceptable." 

Samsung said, "This skimming attack model has been a known issue reviewed by the card networks and Samsung Pay and our partners deemed this potential risk acceptable given the extremely low likelihood of a successful token relay attack."  
TAKEAWAY TRENDIT managers should actively monitor or review the use of Samsung Pay for financial transactions until its potential as a security risk, albeit small, has been resolved.  
Read more on CSO
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