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Originally Posted by Letum
This particular fraud would have been impossible if the US adopted the UK's Chip&Pin system.
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Instead we are developing further ways to swipe credit card information from simple people.
Our latest thing is that they put an RFID chip in our cards, and you now just flash the card in the area of a sensor for quick payment at the local burger joint. Problem is, how exactly does this translate into easier than swiping a card through a magnetic reader? Someone explain that to me. I still have to get the card out and I still have to wave it in front of the scanner! Crazy.
What it has done though is made me vulnerable walking down the street to someone looking to swipe that information without actually stealing my wallet. They can create a simple long range (At least a few feet) scanner for $200 and get that money back and a whole lot more from the first person they walk by.
Nice!
-S