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Contactless billing technology has been improving since the end of the last century. It is used by the major card manufacturers and is offered by almost all banks. And everyone uses it. Of course, security fears have always been there. People are willing to buy wallets that block RFID signals so that pickpockets of the digital age don’t copy the cards, and some try to avoid contactless cards.
Researchers at the Swiss Federal Institute of Technology in Zurich also believe the technology is safe. There will be little benefit to dishonest people from a stolen or found card, as larger purchases still require a PIN.
Swiss scientists decided to check it out. They developed a model that analyzed cards from the major manufacturers. Everything went fine, except Visa. Cards from this manufacturer may be using an insecure protocol that could be fooled. Thieves who understand this can also buy very expensive items. It is true that this is not easy to do.
Scientists do not release all the details, but such theft requires two phones with NFC technology. Researchers have developed a special application. One phone copies the data on the card and transfers that information, the digital card clone, to the other phone. Due to the tricks used by that device, that second phone can be used to make larger payments that would normally require a PIN.
https://www.youtube.com/watch?v=JyUsMLxCCt8
Researchers have tested this alarming system with their cards. “The scam works with debit and credit cards issued in different countries using different currencies,” said Jorgea Toro Pozo, one of the authors of the study. But it quickly calms down – creating such a device is not easy. Furthermore, this security flaw can be fixed very quickly without the need to change cards or make significant investments.
You can get more information about the study HERE and HERE.
A team of academics say they have warned Visa about the gap.
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