Use a payWave credit card? Then read this

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digidog
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Use a payWave credit card? Then read this

Post by digidog » Sat Jul 27, 2013 2:50 am

People who use the new contactless payWave credit cards are being warned that scammers can withdraw month from their accounts using only an electronic skimming device available online for less than $100.
The devices - sourced from China - target the latest credit cards incorporating wave-to-pay technology, and can empty your card balance without you even realising.

http://www.stuff.co.nz/business/money/8 ... rget-cards" onclick="window.open(this.href);return false;

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Re: Use a payWave credit card? Then read this

Post by Foggyone » Sat Jul 27, 2013 6:38 pm

"People need to be aware that this kind of credit card skimming is possible and they need to be getting anti-skimming wallets," he said.

The wallet, made from a wire mesh, forms a barrier preventing the scanner connecting with the credit card.
A Faraday cage in your pocket!
"Visa payWave cardholders are protected by Visa's zero liability policy, which protects all Visa cardholders from unauthorised purchases.

"We recommend that cardholders check their statements regularly and contact their bank if they are aware of any fraudulent activity."
Good advice.
In a statement to the Times, MasterCard claimed it was "nearly impossible" to duplicate a card.
I think the criminals are much smarter than MasterCard gives them credit.
Google, the answer to so many questions!
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Re: Use a payWave credit card? Then read this

Post by digidog » Sat Nov 23, 2013 9:14 pm

Banks are sending pre-activated payWave cards to customers in the mail, so anyone intercepting them can use the payWave function without either a PIN or a signature being required. Visa says they are fast becoming the preferred method of electronic payment for Kiwis with over 1.5 million issued. This Christchurch fraud is the first we've heard about... and it won't be the last.
The security of payWave credit cards is under the spotlight after a woman allegedly racked up nearly $800 worth of goods with a stolen, pre-activated card.

TSB bank has confirmed it is reviewing its policy around sending out payWave credit cards, which can be waved at registers for purchases under $80 without requiring either a PIN or a signature.

A pre-activated TSB payWave card sent to a Christchurch customer last week went missing from a letterbox and was used on a shopping spree.

Hopping between five separate 24-hour service stations, the alleged fraudster racked up nearly $800 of charges in 70 minutes.

At the final service station, five payWave transactions for $50 gift cards were made. The fifth transaction failed when anti-fraud protection kicked in.

A final, unsuccessful transaction was attempted at an ATM. A woman was identified from CCTV footage and has been charged with the fraudulent use of the credit card, police said.

http://www.stuff.co.nz/national/crime/9 ... nk-rethink" onclick="window.open(this.href);return false;

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Re: Use a payWave credit card? Then read this

Post by digidog » Wed Jul 22, 2015 5:44 am

Two years have passed since the start of this thread and contactless bank cards are now in everday use. Both PayWave and PayPass allow users to pay for transactions under $80 by waving their card over the terminal. No PIN to enter and no receipt to sign.

As predicted, this tap-and-go technology offers criminals an easy way to grab a few dollars. Steal a wallet and swipe away happily until the user discovers his bank balance or Visa debt has changed without his knowledge.

The banks say there isn't an much of an issue and NZ Police say they keep no specific statistics on contactless card thefts.

http://www.nzherald.co.nz/personal-fina ... d=11484688

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Re: Use a payWave credit card? Then read this

Post by digidog » Mon Dec 07, 2015 3:15 am

We're not surprised to read about PayWave fraud on a regular basis. After all, a stolen card will usually serve up numerous sub-$80 purchases before it's blocked by the bank. It's a petty criminal's dream.

Today ANZ has launched its goMoney wallet -- another tap-and-go system which oddly, is restricted to Android phones and tablets. It doesn't work on Apple iPhones and iPads, Windows phones or Blackberries. Apparently Westpac is trialling the same technology.

It still amazes me that our major banks seem hell-bent on introducing such an easily-exploited technology.

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