msnbc.msn.com— No-swipe credit cards that use radio waves to relay their data put consumers at increased risk of identity theft, Sen. Charles Schumer said Sunday.
Dec 4, 2006View in Crawl 4
And then think about the extra hassle you have to go through when discarding the card.I cut one up a few weeks ago. The RFID chip is approximately 2 mm square. I almost missed it before specifically searching for the thing.
Write "SEE ID" on the back of your card. Sure, it doesn't always work.. but I get checked about 30% of the time with that on there. Better than nothing.
What about those smart-toilets with built-in bidets? They are mostly only in Japan, but the Japanese company Toto which is famous for many of these toilets actually makes its most high-tech one available in the US as well. I called my nearest distributor and they said it cost $5000 though. :-(
"All you need to be is within a couple of feet of the customer," Schumer said. "You may as well put your credit card information on a big sign on your back."umm thats a gross over-exaggeration especially since you wouldn't need to "equip yourself with the radio frequency readers." i believe is there was a sign on your back all someone would need is a pen. but i mean if you always carry around a radio frequency reader be my guest...
Ok let's see what we have here:1) "The cards use encrypted data, it said." [J P Morgan]2) "The card and the reader in the terminal are safe and secure" [Thomas O'Donnell, senior vice president of Chase cards services]3) "Schumer said thieves can equip themselves with the radio frequency readers to steal information from the credit cards"If these don't trigger all your alarm bells and red flags, you probably deserve 15 of these RFID cards with a $10,000 limit on each as a special bonus Christmas gift.
The banks recoup their fraud losses from other fees assessed to the merchant. So they attempt to maintain a level of security that makes economic sense.The real problem is that the banks do not give a $#^$% about ID theft, because of this same economic argument. They might be out a couple of thousand dollars collectively for one incident of ID theft but the consumer, possibly elderly, frail, caught up in some other life crises, etc., although usually not financially liable, is out much more than that in the amount of time spent and stress incurred by the incident.
Makes sense. Thanks for the reply. So, then a logical 'next step' in the credit process is to build into the system an accountability to the credit card issuers (the banks). If there is an incentive, they will find a way to make a secure card. Right?
fracaiDec 4, 2006
And then think about the extra hassle you have to go through when discarding the card.I cut one up a few weeks ago. The RFID chip is approximately 2 mm square. I almost missed it before specifically searching for the thing.
chompyDec 4, 2006
Write "SEE ID" on the back of your card. Sure, it doesn't always work.. but I get checked about 30% of the time with that on there. Better than nothing.
flarn2006Dec 5, 2006
What about those smart-toilets with built-in bidets? They are mostly only in Japan, but the Japanese company Toto which is famous for many of these toilets actually makes its most high-tech one available in the US as well. I called my nearest distributor and they said it cost $5000 though. :-(
chemmanDec 5, 2006
@whisk3rs,I haven't tried it myself but have heard that microwaving the RFID chip will help disable it
crazyworldDec 5, 2006
"All you need to be is within a couple of feet of the customer," Schumer said. "You may as well put your credit card information on a big sign on your back."umm thats a gross over-exaggeration especially since you wouldn't need to "equip yourself with the radio frequency readers." i believe is there was a sign on your back all someone would need is a pen. but i mean if you always carry around a radio frequency reader be my guest...
Closed AccountDec 5, 2006
Ok let's see what we have here:1) "The cards use encrypted data, it said." [J P Morgan]2) "The card and the reader in the terminal are safe and secure" [Thomas O'Donnell, senior vice president of Chase cards services]3) "Schumer said thieves can equip themselves with the radio frequency readers to steal information from the credit cards"If these don't trigger all your alarm bells and red flags, you probably deserve 15 of these RFID cards with a $10,000 limit on each as a special bonus Christmas gift.
bulltacoDec 5, 2006
The banks recoup their fraud losses from other fees assessed to the merchant. So they attempt to maintain a level of security that makes economic sense.The real problem is that the banks do not give a $#^$% about ID theft, because of this same economic argument. They might be out a couple of thousand dollars collectively for one incident of ID theft but the consumer, possibly elderly, frail, caught up in some other life crises, etc., although usually not financially liable, is out much more than that in the amount of time spent and stress incurred by the incident.
ghartnessDec 6, 2006
Makes sense. Thanks for the reply. So, then a logical 'next step' in the credit process is to build into the system an accountability to the credit card issuers (the banks). If there is an incentive, they will find a way to make a secure card. Right?