With the new contactless card systems, payment is made more convenient and business arrangements are quicker, but different techniques to hack cards and steal as much money as possible begin to emerge.
As we all know, there is a limit of money that can be spent without having to write the PIN code, but cybercriminals are already learning to break that barrier to steal you at ease.
The contactless payment is already the favorite modality of the Spaniards
Contactless payment cards or NFC systems open the door for someone to approach us with a payment device and make a money transaction without us noticing. Simply bring it to our pocket so that you try to steal data or money.
As found out by Forbes, something predictable is happening: there are those who are dedicated to manufacturing their own wireless devices to intercept cards and even tell those cards that PIN verification is not necessary and thus extract as much money as possible from a single transaction.
Similarly, systems are being devised that plagiarize the cards or data sent by mobile phones in order to try to clone them and use them to make their own purchases.
Large payments without PIN
In Forbes they tried these systems and saw how they could make payments that exceeded the limit without a PIN by one dollar, and even extract all the money that was possible with the card, hundreds or thousands of dollars.
It was also demonstrated that they could clone the information and send it to different mobile phones to make simultaneous purchases from several places. Aspect that multiplies the problem that can be found by those robbed by these systems.
The latter allows some freedom to thieves, as alarms jump when large money transactions are made or if there are numerous of just the limit set, not if several different amounts occur that exceed the limit but not too much.
VISA states that their cards are safe
Despite the uncovered information, VISA has downplayed what happened and say that similar crimes are unlikely to occur and even less frequently, so there is no security problem to solve.
According to a VISA spokesperson “the transaction must pass issuer validations and detection protocols. It is not a fraud approach that we normally see that criminals employ in the real world. ” According to VISA data, the fraud rate for contactless cards has been reduced in Europe by 40% over the past two years, so they work in the right direction.
Who wants to protect their cards from this type of techniques, there are already wallets that isolate the cards and prevent third parties from performing this kind of techniques with them. Even so, there is still a way to go and new strategies will be sought to ensure these systems.