News
stations world-wide have issued a consumer alert to anyone holding a credit
card with an RFID chip. The tiny embedded chip is supposed to facilitate a more
convenient and fast buying experience, but that same chip is now putting almost
all of us at the risk of a new kind of crime-wave called ‘Digital Pick
pocketing’.
- Criminals are using NFC enable smart phones to steal credit card numbers
- An estimated 70% of cards are already vulnerable to digital pick pocketing
- The software can be easily downloaded via an app
- Within six inches of a regular wallet and in seconds they’ve got you
- They can use your details for fraudulent transactions immediately
“Anyone with a smart phone and a free and easy to download
app can sniff someone’s wallet for his credit card information.”
The
growing threat of identity theft has been a burning issue over the last
eighteen months. The more advanced technology gets, the more vulnerable we
become to the clever new age criminals.
So
How Exactly Is This Possible? Major credit card companies, in an effort to
speed up credit card transactions at the cash register, have adopted a
"contactless" payment system, which relies on radio frequency
identification or ‘RFID’. RFID enabled credit cards are embedded with a
microchip that stores all the account information necessary to complete a
transaction – and it is this latest development that brought the new wave of
Digital Pickpockets. The criminals don’t have to be master hackers anymore and
just about anyone with a smart phone and an easy to download app can sniff
someone's wallet or purse for credit card details. If you don't have the right protection against RFID
readers they can get their hands on your
pin code and other personal information in seconds to immediately steal from
your account.
These
new-age criminals are lurking in public places hunting for unprotected wallets:
Standing next to you on the train, behind you on an escalator, in the checkout
line at the local store… basically every public place frequented is a hunting
ground for digital pickpockets. In just a matter of seconds, without ever
laying a hand on their unsuspecting victims, credit card details are being
stolen every single day using this method and the banks and police are powerless
to stop it.
“I just have to walk up to you and
stand close by and boom, I’ve got you! I have all your credit card details. The
device only has to get within 6 inches of the card.” said David Bryan, a security
specialist at Trust wave.
Bryan went on to explain
how easily an RFID reader can get personal details from credit cards, even ones
safely tucked away in a bag or backpack. The digital era is making our lives
easier, but that advantage extends to the criminal world. Physically cloning
credit cards is a thing of the past. Unless you have an RFID blocking wallet,
or you're ready to wrap each of your cards in aluminum foil, they can simply
read your credit cards with their smart phones, and make purchases in just
about any store and pay directly with that same smart phone.”
“It might be a thing of the past
where thieves had to actually clone your credit card to use it, now they can
simply read your card with their smart phones, and use the same smart phone to
make purchases in any store where you can pay directly with your smart phone.”
In
an effort to bring awareness to this issue, Local news channel Komo news
modified a Smartphone and installed an App to test just how easy it would be to
scan an RFID enabled credit card and use it to pay in convenient stores. Komo news
visited eight Seattle stores which were using the contactless payment system,
and without creating any suspicion, the reporter was able to use the credit
card details that had been scanned into the phone to simulate how digital pick pocketers
make purchases, and got no resistance from the sales assistants.
"That's frightening" said Robbie Watson of Zelo
Bike Shop after the Komo news reporter showed him how he had used credit card
details which didn’t belong to him. “Even if you showed me your ID, I couldn’t
verify the account.” said Watson. “There’s something not right about this.”
Tobacconist
Naeen Ahmad showed similar concern when Komo news showed him how they used the
copied credit card details in his store. “I think it’s extremely dangerous,
It’s like anybody’s credit cards are not protected anymore.” This inability
to verify the transaction is due to a legal loophole that says credit card
users are not required by law to produce ID.
“A simple and
effective solution is to get a wallet specifically designed to block RFID signals. In my opinion, all wallets should be made
this way. Today's environment is full of things that can damage your credit
cards. They are not only vulnerable to cloning. For me it really is a
no-brainer. Peace of mind for a few bucks."
More
and more wallet and purse manufacturers are now choosing to use the hard
wearing materials that block RF signals, and many believe this faceless crime
will be completely stamped out within the next two to three years.
"The criminals
know the window of opportunity won't be around forever, so they are taking full
advantage of the naive and unprotected while they still can. Eventually, only a
small percentage of the population will be using the exposed cardholders,
wallets, and purses, and the hackers will move on to something new. The sooner
everyone converts to the protective materials the better we will all be."
Banks
are catching on to this crime wave and recommending the secure wallet, some are
even offering new account holders a
secure wallet as a welcome gift.
"When credit
card details are stolen with an RFID reader it can be a complicated issue from
the banks perspective." said David Brian. "They must investigate each
crime to ensure the claim is valid. From a cyber-security point of view, an electronic
transaction is made with all the valid details and it's very hard to prove that
the cardholder didn't make the purchase."
Spokesman
for FiberX, Jeff Atkins who was interviewed in
a breaking news production had this to say.
“Anyone with a
modified smart phone can invisibly get all of your credit card information in
seconds. What we’ve developed here is a special
wallet that is able to completely protect all of your credit cards from this
threat, so you don’t have
to ever worry about it. The FiberX Wallet creates an electromagnetic force
field that completely blocks RFID reader technology. You see, FiberX Wallet has
polycarbonate plates guarding your credit cards… effectively sandwiching them
in between two impenetrable shields.”
Widespread
criticism has been voiced at how some banks have started freezing victim's
accounts and delaying the replacement of lost funds until a lengthy
investigation has been made.
“It’s called “Micro
fraud” skimming. $20 here, $30 there, and they do it for months before you or
your credit card company gets suspicious. By the time you find out about it,
your money is long gone!” added Jeff Atkins of FiberX.
Hundreds
of victims not having a stash of cash under the mattress are suffering and the
list is growing, and the only advice being offered by the authorities is to upgrade your wallet or purse and not wait for it to
happen to you.
FiberX
spokesman, Jeff Atkins ended his interview by assuring the breaking news
viewers that protection is easily achieved. “FiberX Wallet is exactly the solution. It protects up to 10 credit
cards no problem. 100% safe… and it easily fits in your front pocket or small bag.
No one will be able to steal your credit card details and your personal
information.”
With no other solution in
development by the credit card companies and banks, people all across America
are finding their own ways to protect themselves and avoid being a victim of
Digital Pick pocketing. We urge you to stay vigilant whenever in a public
place. Guard your wallet at all times, pay attention to the people around you
and report any suspicious characters. Most of all get protected as soon as
possible and deny the hackers the chance to rip you off.
No comments:
Post a Comment