11/28/2023 0 Comments Atm master key codes![]() ![]() Stay Compliant With Payment Card Industry Data Security Standards Again, by splitting this sensitive information between multiple people, you reduce the risk of compromising your key because multiple people are much less likely to collaborate in a theft than a single person is to act on their own. To ensure the physical copy of this information is as secure as possible, store each piece of information in a different safe, use safes in multiple locations, and do not allow any single person to have access to more than one safe. ![]() Generally, hardware security modules store master keys in a way designed to reduce the risk of compromise, and to assemble the full key, you need to enter several different pieces of information. In cases of a failure with your hardware security module, you need to store backup information so that you can restore or upgrade the module as needed. Store Physical Backups in Different Locations Once they receive their portions of the key, they can hold a “key ceremony” where they each enter their information separately and privately into the hardware security module. Typically, this involves sending the key in three parts to three different people in the organization that requires this information. In these situations, you should also split up the information between multiple people. In some cases, your financial institution may need to share master key information with a third party such as Visa. Share Information With Third Parties Carefully Just as changing passwords regularly helps to secure access to software and applications, changing your master key also helps to prevent unauthorized access. To protect your master key, change the number periodically and also mix up which employees have access to portions of the key. Splitting the master key between several people makes the information much less susceptible to fraud - while a single person could easily decide to steal the master key on their own, a group of people is a lot less likely to collaborate and steal the information together. Instead, you should divide the information between multiple people from your financial institution’s management team. Ideally, a single person should never have access to the entire master key. Don’t Give the Complete Master Key to Any Individual To protect the key, you need to manage it on a dedicated server with a dedicated operating system. This key allows you to access ATM pins, customer data, credit card details, access codes, and the rest of the sensitive information stored by your bank. The host master key is the most sensitive piece of information in most financial institutions. Manage Your Master Key on Dedicated Servers This embarrassing and costly debacle underscores the importance of keeping your master key secure, but what are the most effective ways to protect your master key? Check out these tips. In addition to suffering those direct losses, the bank also had to replace 12 million cards generated by that key, at a cost of about $58 million. Over the following year, the employee made more than 25,000 fraudulent transactions and stole over $3.2 million from the bank’s customers. In December 2018, an employee of Postbank in South Africa printed a copy of the bank’s master key from a data center in Pretoria. ![]()
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