Busted: Bankers and The Global Economy

January 27, 2008

Banks Create Risk with RFID

Filed under: banking, money, RFID, security, tracking — Tags: , , , , , , , , , — digitaleconomy @ 6:00 am
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“The Halifax bank is enrolling unsuspecting customers in trials of a new generation of RFID-enabled bank cards, and trying to keep them in the program even if they have misgivings about the wave and pay technology. Halifax are cancelling peoples’ bank cards without permission and without even telling them, and forcing them to use these new cards, which as far as I know nobody has asked for.”
The Register Article 1/27/2008
“I have to input my PIN the very first time I use this ‘Paywave’ card, but after that it is automatically authorised to work for all transactions under £10”

RFID credit cards are not passive instruments. These cards send out a signal that has the potential to be intercepted, recorded and reused by technology thieves. This can easily be done on the streets when the card is in the wallet or purse. Cards in Europe, technically known as “RFID-enabled,” are always “on”. Even with banking limits, the potential risk and hassle of dealing with fraud makes these cards no bargain. Let the banking customer beware. ~E.M.

The Guardian 11/17/2005

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