A New Way To Get Ripped Off

Identity theft is becoming epidemic—and the same technology that is being employed to safeguard our credit profiles is now being used against us.

Thought I’d seen it all—then I watched the following video on how card readers can be employed to extract your credit card number-THROUGH YOUR CLOTHING without your knowledge.

Scary.

Check this out:



http://www.wreg.com/videobeta/8ba6f8fc-90a2-4711-90ea-1884ec348310/News/Electronic-Pickpocket


Thanks to frequent blog idea catalyst Rick Cooper for sending this along.

It seems the crooks are one step ahead of the credit card companies! A technology for making purchases easier to transact is being subverted to glean your credit info without your knowledge.

I always thought it was a pain to have to read the three or four digit “security code” on the back of the card. Now, there seems to be no way to keep your credit card safe.

Every time you send your credit card back with a waitress at a restaurant, there is the possibility of identity theft. I envision a huddle of lowly paid restaurant workers copying my number, expiration date and security codes for their illicit internet purchases after they get off work.

Irrational and yet I cannot help but think that even web transactions using a “secure server” are not at all secure. If the Wikileaks guy can entice his warped supporters to literally TAKE DOWN the Visa and MasterCard websites, we have a problem, Houston.

Putting your picture on the card is being done, but what about those purchases made over the internet.

Whomever can come up with a foolproof way to isolate the identity of the true card holder from thieves will be a multi-billionaire.

I’m gonna start thinking about it right away. Maybe there is a book on Amazon about credit card security I can get by typing my credit card number into that little box on the screen.

If you’d like my blog in your box, just let me know: tim.moore@citcomm.com