RFID: Another Snake Oil Scheme

May 19, 2008

Finances, Rants, Trends

[bump] This is a popular post, and I believe an important one. I bumped it to the top for today. You can see more new posts, below. šŸ™‚

I saw this video and it blew me away. My husband got one of these cards recently– an American Express credit card with an RFID chip. All for your security, of course.

But the sneaky little deception is that it’s not for your security at all! Watch this little video of a “Hacker/Futurist” who swipes the credit card information with an $8 device he bought off eBay.

The thing that REALLY blew me away most was that the Hacker said that credit card companies are not at all interested in security for the consumer. They are interested in the appearance of security for the consumer. I WOULD LIKE TO KNOW WHY THIS IS!

I don’t for one second believe that any bank or company are unable to make electronic transactions secure. The big question is WHY won’t they?

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7 Responses to “RFID: Another Snake Oil Scheme”

  1. Francis Scudellari Says:

    There was an article in Wired about this a few months back, and it’s pretty scary how uninterested in security most company’s are. Even the RFID chips they use for employee ID cards are easily spoofed. It’s as if they want to rush the technology through and figure out specifics later.

  2. heidi Says:

    This is unbelievable! I never knew it was so dangerous. It really makes me nervous.

  3. Jeannine Says:

    Whoa! I didn’t know any of this. It’s going to be back off man!

  4. colleen Says:

    They don’t care because they can just pass all fraud cost plus to their merchants. Did you know the merchant has to pay for the chargeback WHETHER OR NOT THEY ARE AT FAULT!!! CC co’s will never care until they have to start eating some of the cost of fraud. I have a long blog post about it. It’s not very amusing because the subject isn’t funny. Here ya go. and write your congressman saying it’s high time the co’s were forced to do something:

    http://dorkage.net/2008/05/credit-card-security-online/

  5. Lisa Says:

    OMG!! I have the same card!!! Wow and I was thinking I was “safe”. Thanks for the video.. Now I want to wrap all my cards with tin foil..

  6. Rebecca Says:

    It’s also very ominous that there’s a lot of pressure toward an identity chip– that VeriChip RFID that companies are starting to implant in employees. That stuff is so creepy that I cannot IMAGINE it ever happening on a global basis. But it will… šŸ™

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