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Senate Banking Committee Member Denounces”No-Swipe” Credit Cards

Saturday, March 2nd, 2019 (No comments yet)

Money, Security

Wireless credit cards aren't ready. Avoid them.

(Image used under: Creative Commons 3.0 [SRC])

From the CASPAIN newsletter:

A member of the Senate Banking Committee denounced RFID "no-swipe" credit cards at a press conference Sunday. Senator Charles Schumer (D-NY) said contracts for the cards should have warning boxes disclosing "the known weaknesses of the technology." He cautioned cardholders about their vulnerability to identity thieves, commenting you "may as well put your credit card information on a big sign on your back."

RFID is an extremely dangerous technology if left unregulated and businesses are rushing to get it to the market before people know what's happening. That's why situations like this happen:

CASPIAN demanded a recall of RFID credit cards last month after the New York Times reported that a team of security researchers found that virtually every one of the "no-swipe" credit cards it tested was vulnerable to unauthorized charges and put consumers at risk for identity theft.