Credit Card Skimmers Could Break Your Bank
A new warning from the Identity Theft Resource Center (ITRC) says thieves are now skimming RFID information in order to steal credit card and debit card information. According to the not-for-profit organization, identity thieves are able to harvest numbers and personal details from new debit and credit cards by brushing past a purse or wallet.
How is the New RFID Technology Scanned?
Many credit and debit card issuers have started releasing cards to the public that come equipped with an embedded radio frequency identification (RFID) chip. The cards use radio waves to transmit card information by simply swiping it through the air in general proximity of the card reader.
While the new technology makes it simple to complete card transactions, the ITRC says it makes identity theft simple as well. By using RFID skimmer technology, a tech-savvy thief could easily steal your credit card number and other information without ever seeing your card.
To prove how simple the process is, Walt Augustinowicz, an expert with Identity Stronghold, a company that sells sleeves to block RFID transactions among other security products, conducted an experiment for Memphis local television station WREG. He took an inexpensive portable scanner and laptop onto Beale Street in Memphis and, over the course of an hour, skimmed credit card information from five people by brushing the reader against their pockets.
While experts say the skimmers cannot pick up the three-digit validation card on the back of credit cards, or pin codes for debit cards, they still are able to pull enough information to make certain types of purchases. This is why the ITRC suggests taking as many precautions as possible if you have this new card.
How to Protect Yourself Against Skimming
The ITRS and Augustinowicz suggest taking steps to protect your personal information if you have received a card with the RFID chip, including:
- Buy a sleeve: By purchasing a sleeve that blocks RFID transmission, you have a smaller chance of having the card read while walking down the street.
- Wrap your card in aluminum foil: Aluminum foil is reportedly able to do as good a job as the sleeves of blocking transmissions–and is much cheaper.
- Don’t be careless: Don’t show your card to others in public, leaving it vulnerable to skimming. Only take it out of its protective sleeve or foil when making transactions.
Card issuers are said to be aware of the issue and are taking extra precautions to ensure the codes cannot be broken. But American Express, Discover and MasterCard all say their cards are already skim-proof due to their coding and encryption processes.
Despite their claims, experts advise cardholders be aware of skimming dangers and to take their own steps to ensure they won’t become victims of identity theft.
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