Busted: Bankers and The Global Economy

July 20, 2008

EU: RFID Reduces Fraud or Promotes Fraud?

RFID technology is being promoted as the final solution to security problems. Business, ranging from security to law enforcement to banking is researching the latest and greatest new ideas and creating newer and less expensive ways to employ RFID tracking. Mostly, the process is a waiting game with wary citizens as the idea of RFID becomes accepted over time.

In the past, the government authorities in the EU have told citizens that a nationwide identification card could reduce fraud, prevent illegal immigration and combat global terrorism.

The government in Britain has admitted that it had oversold the benefits of a national identification scheme and that it was unlikely that the card would do any of these things. Still, the government is moving ahead with its plans. Next year all foreign nationals entering the European Union will be required to apply for an identification card. By the year 2010 all British citizens will be required to do the same.

The government is proposing that these new RFID payment cards will prevent theft by eliminating the need to carry cash. But there is one issue that is not being addressed by these the European Union or organizations that are promoting RFID tracking. When your card gets stolen or lost, with RFID you stand to lose much more than just a wallet full of cash. You stand to lose your identity and your means to get home.

The same amount of attention that is being devoted to RFID technology needs to be devoted to concept of security on all sides. Still, the effect of RFID promises to be life-changing, whether for the better or worse. Those concerned about big brother and the potential of privacy invasion are worried. On one side, the EU seems to be working toward privacy concerns. The other hand of the EU seems to be doing the opposite, all in the name of peace and security.

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