I don't know if it was in local media (I think not), but I saw many reports about this several days ago while surfing a variety of news websites.
What I've run into of late is a bit different: I'm not receiving credit card statements. Haven't for about three months now. But I've called my cc company and they tell me there's nothing suspicious on my account. I have a fraud alert on it, just in case. Anybody ever run into that?
posted by CrankyEastSider at 11:15 P.M. EST on Mon Mar 13, 2006 #
Yes - I've seen both. There's a new 'tap' technology out there. The banks have been testing it. I have read about it (I work in the field) but haven't seen any working equipment. The technology is called 'Tap and Go'. You just 'tap' a sensor which reads a chip in the card. So - I believe that's why we're getting new cards. I got one as well.
posted by katie82640 at 09:27 A.M. EST on Tue Mar 14, 2006 #
Here's why:
"PIN Scandal 'Worst Hack Ever'; Citibank Only The Start"
http://www.informationweek.com/story/showArticle.jhtml?articleID=181502474&cid=RSSfeed_IWK_All"
"The scam has hit national banks like Bank of America, Wells Fargo, and Washington Mutual, as well as smaller banks, all of which have re-issued debit cards in recent weeks, says a Gartner research vice president."
posted by Erie_Island at 11:01 A.M. EST on Tue Mar 14, 2006 #
"Pay Pass," that's what Key Bank calls their new debit cards. My wife and I received these new cards out of the blue last fall. We didn't request them. The letter accompanying the new card said the old one would expire in 90 days even though the old card was originally set to expire in another year or two.
If the checkout register has the new machine that supports this type of card, then yes, you tap it with your debit card, and you're on your way. Nothing to sign. In theory that's how it's suppose to work. I never think to check for the device that supports "pay pass."
posted by jr at 11:24 A.M. EST on Tue Mar 14, 2006 #
"Pay Pass," that's what Key Bank calls their new debit cards. My wife and I received these new cards out of the blue last fall. We didn't request them. The letter accompanying the new card said the old one would expire in 90 days even though the old card was originally set to expire in another year or two.
If the checkout register has the new machine that supports this type of card, then yes, you tap it with your debit card, and you're on your way. Nothing to sign. In theory that's how it's suppose to work. I never think to check for the device that supports "pay pass."
Yeah, isn't RFID great? Would you like to bet that someone hasn't built a reader for those cards yet? All it takes is one good read and all the info to make a clone of the card is right there. Since it operates over radio, it's subject to electronic eavesdropping, just like cell/cordless phones and 802.11 wireless networking.
http://www.tomsnetworking.com/2005/03/08/how_to/
Yeah, Bluetooth wireless is supposed to work at up to around 10 metres (~30 feet) for short distance and 100 metres (~300 feet) for long distance... and here's a "sniper rifle" reading it from 1 km (1000 metres) away.
My current favorite RFID story is how the Feds are putting RFID tags in passports... and swore up and down they could only be read from a distance of 10cm (4 inches) away, but in reality they can be read from THIRTY FEET away. And they're set to require RFID on ALL STATE ID CARDS due to the Real ID Act.
The phrase "target-rich environment" comes to mind when thinking of the ability of "hackers" or Big Brother to steal data from and track individuals.
posted by anonymouscoward at 12:17 P.M. EST on Tue Mar 14, 2006 #
The Information Week article is fantastic. I use Charter One, which is now Citibank. I am going to check my balance!
Is there anyway to protect yourself against this kind of fraud?
I had my credit info stolen. No one has used it but it's scary knowing it's out there...
posted by katie82640 at 01:02 P.M. EST on Tue Mar 14, 2006 #
Katie: Sure there's a way. Don't use your card. Use cash or a personal cheque instead. Tell the bank you don't want an ATM card, don't want a free VISA, etc.
As for the rest of it, what the bank isn't telling anyone is the ease with which electronic funds transfers occur, which I would liken to leaving your front door open with a sign advertising free furniture inside.
I'm not certain how much a cardholder is liable for in the case of fraud. I know that in the old days if your account somehow got cleaned out by misuse of one of those fail safe ATM cards, you were out of luck unless the bank decided to cover your loss. Credit cards used to make you liable for the first $500 or something like that.
posted by madjack at 04:41 P.M. EST on Tue Mar 14, 2006 #
I'll take that advice Jack, one last question.
My friend told me last week - she is the one who referred me to Charter One - that someone had stolen her account information. From a paper check. Then they printed checks (I guess you can do this at home now?!) and used them.
The bank's been wonderful to her and returned all of the money - but maybe cash is the only safe way at all?
posted by katie82640 at 07:29 P.M. EST on Tue Mar 14, 2006 #
Firstly, any card you have with RFID can have the RFID part killed with a microwave oven. Google for it. Basically, if I found the state placing a chip in my ID card, I'd microwave it. I don't want to be BROADCASTING (er, SHORTCASTING?) my private information in response to some crook with a $100 reader in his pocket nearby.
Secondly, there are remarkable scams going around about checks. One website made it onto a bank security alert for their outright printing and shipping of checks. Of course, crooks simply give this web company the account information from some rube's check, and then the company prints out a very real-looking check. The web company puts up a disclaimer, saying something along the lines that "you must own the account we're printing the checks for", but since they don't confirm anything ....
Call your local bank and ask about web companies that print checks online, and you'll probably get an earful.
For fans of "digital cash" and the "cashless society", please note that counterfeiting new currency is almost impossible. :^)
Still, everyone in high school should be taught to be suspicious and dutiful about our currency. It's too easy to pass a cheaply-printed $20 in some dark bar. The printers right off the shelf at Best Buy and Office Max are more than capable of peforming such feats, but almost uniformly they produce a suspiciously dark bill. But it's even worse than that. I had watched a clerk at Home Depot a couple of years ago accept a clearly counterfeit $100 bill. I even asked to see it on the basis of my, er, identity, and the clerk let me see it right in front of the customer. You couldn't read the microprinting, which I so stated to both of them ... yet she still accepted it.
Our cash is only as secure as the vigilence of our citizenry. Learn to inspect your $100s and $20s with a critical eye. For example, the plastic security strip in the new bills is as-yet impossible to counterfeit, so I often enough hold the bill up to the light to examine it as a habit.
posted by GuestZero at 12:28 P.M. EST on Wed Mar 15, 2006 #
GZ,
You are right about the diligence (or, lack thereof) of our citizenry being key to our currency working properly.
Maybe the clerk and the "customer" were acquainted with each other. That makes passing bogus bills easier, as I understand it.
As for me, I keep my cards in a wallet lined with a metallic film lined layer fabricated into the exterior layer, so that any impregnated chips are deaf/dumb until they are removed for use.
I keep my wallet under my tinfoil hat... ;-)
posted by Hooda_Thunkit at 02:52 P.M. EST on Fri Mar 17, 2006 #
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