Technology found in credit & debit cards could provide easy access to your wallet
POSTED: Wednesday, May 16, 2012 - 9:00am
UPDATED: Wednesday, May 16, 2012 - 9:01am
NBC NATIOANL NEWS — Electronic pick pocketing is made possible due to newer technology allowing you just pass your credit card or wallet over pay terminals.
"It's quicker to wave and pay and walk away, but we found it's actually convenient for thieves, very convenient," said Walt Augustinowicz of Identity Stronghold.
It is contact-less credit and contact-less crime.
"All we did is hook a battery up to a transmitter so I could show you on my cell phone," said Augustinowicz.
He demonstrated that using technology hidden in an iPad case, he was able to get credit card numbers when he was passing by people on the street.
There is an emblem on cards call RIFD which is a sign you have a frequency identification card.
The symbol and capability is now used by most major credit card companies with about 200 million in circulation.
"You learn ways to protect yourself, like keep your wallet close or even in front pocket or front purse clutched to your arm and now we find that doesn't matter," said Augustinowicz.
Threats also come via your cellphone.
Download the wrong app throw your phone in your purse and your own phone could electronically rip off the credit card number in your wallet.
Credit card companies responding to this story downplayed the risk saying names and security codes are never transmitted.
Right now there are no official statistics on this specific type of crime.
But if it does happen, credit card companies stress their policies insure customers are given a full refund when th