The theft could be largely prevented by adopting the same chip standards used by commercial credit cards. However, the Department of Justice currently lacks the resources to combat the scale of the crime, as FBI agents can prosecute less than 1% of cases resulting from faulty program design and poor internal controls.
Tuesday, October 20, 2026
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Fraudsters Steal $470 Million From US Food Assistance Using Magnetic Stripes
Cybersecurity6 days ago
More than 990,000 households fell victim to organized crime networks that drained government benefits last year. These skimming rings stole $470 million from SNAP food assistance recipients by exploiting the magnetic stripes on benefit cards, a security flaw that continues because Congress has declined to fund a transition to microchip technology.
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