Hackers can EASILY steal your credit card information simply using their phones
It seems like a creepy and very 21st-century crime — your credit cards being invisibly read and stolen by a futuristic gadget as you walk down the street.
Pickpockets no longer need to touch their victims — they can use cheap technology to read credit cards through peoples’ pants and purses.
Hacker Kristin Paget proved as much with a demonstration at the Shmoocon hacker conference in Washington last week.
Paget then used a credit card-swiping iPhone attachment and voila! She stole $15 bucks from her “victim” before paying him back immediately, Forbes wrote.
Radio Frequency Identification Technology
Radio Frequency Identification, RFID, is a remote able to send, and in some cases, receive radio waves. The concept involves a device like the one you tap a contactless credit card on to make a payment, but portable and more sensitive.
RFID-enabled credit cards can wirelessly transmit the necessary personal information from a card held a few inches away from a RFID reader to complete a financial transaction.
There are millions of RFID-enabled credit cards. No one knows for sure how many credit cards in the United States are RFID-enabled, but some estimates put them at more than 47 percent.6 things you should know about credit cards:
- Criminals use RFID and NFC wireless communication to steal numbers
- The readers can be brought online or downloaded to phone via an app
- They have to stand at least six inches close while a transaction is being made
- Within a matter of seconds, the technology can pick up and store data
- A $300 machine can then replicate the card so it can be used elsewhere
- It is estimated 70% cards will soon be vulnerable to digital pick pocketing
That being part of the reason why Debit and Credit card fraud losses grow so fast.
|Year||Dollars Lost to Debit and Credit Card Fraud||Cardholders Reimbursed|
|2011||$70.4 Million||72 000|
|2012||$94.6 Million||119 000|
|2013||$106.8 Million||159 300|
|2014||$104.5 Million||148 000|
|2015||$142.3 Million||238 000|
|2016||$119 Million||205 000|
Will an aluminum alloy wallet protect my money and identity?
Right after RFID-technology was introduced, hackers started to look for a breach in it. It’s the latter use that has driven a billion-dollar defense industry offering specially designed RFID-blocking accessories. Today RFID blocking wallets RFID-blocking wallets are becoming more popular than the regular ones.
Public transportation such s busses, underground or trains are the most common hunting grounds for identity thieves because of the density of people (credit cards) and the fact that they simply stay still for at least 5 minutes. This gives thieves the ability to scan the whole perimeter and do their dirty job.Therefore banks recommended to use RFID wallets as the simplest and most affordable way to protect your savings.
- It looks great and takes up very little space.
- It’s solidly built with quality materials and worth every penny.
- It can fit up to seven cards which is more than enough for most folks.
Protect yourself from data thieves who skim & steal your personal financial information within seconds. Avoid wasting hours of cancelling credit cards and anxiety over identity theft. Travel safely & securely with confidence knowing you are protected with our RFID wallet & will not be a victim.
Since you will soon need a new wallet anyway, why not get that protection since our secure wallets cost about the same as the vulnerable ones?