RFID Credit Cards Major Security Risk

Sensei Post in Identity Theft

Hacking contactless credit cards made easy. U.S. security researchers have demonstrated how easy it might be for crooks to read sensitive personal information from RFID-based credit and debit cards. Researchers from the RFID Consortium for Security and Privacy have shown how crooks might be able to skim sensitive information from cards — including card number, expiration, and issue dates, and a cardholder’s name — without actually physically stealing the latest generation of credit cards. The attack uses off-the-shelf radio and card reader equipment that could cost as little as $150. Although the attack fails to yield verification codes normally needed to make online purchases, it would still be possible for crooks to use the data to order goods and services from online stores that don’t request this information. Despite assurances by the issuing companies that data contained on RFID-based credit cards would be encrypted, the researchers found that the majority of cards they tested did not use encryption or other data protection technology. Source

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