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Checkout Crime Wave - New technology scam

#1 User is offline   hukildaspida 

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Posted 11 December 2012 - 02:17 PM

Our cousins over the ditch were Guinea Pigs for this new technology.

It's a shame both Australia & New Zealand are used as, to quote an unnamed International Security Specialist whom we know, "Dumping ground" for such stupid "Advances in trialling new technology" & other stupid systems that are not robust.

It's time we were all more pro-active in putting protections/ mechanisms in place to prevent some of these such things.

Checkout crimeWave


BLAIR RICHARDS | December 09, 2012 12.01am

WITH no signature or PIN required, police say "tap and go" contactless payment technology has given credit card thieves a new opportunity to steal other people's money.

Known as Mastercard PayPass or Visa payWave, the technology being rolled out by major banks allows the card holder to make a purchase under $100 by waving their card within 4cm of the card reader at the checkout. The technology is used globally.

Trials began in Australia in 2009, and major retailers now have tap-and-go card readers.

Detective Sergeant Natasha Leaman of Tasmania Police's fraud and e-crime division said while the new cards had the same secure chip technology as regular cards, payWave had opened a new fraud window.

"We had a case just recently where an elderly man had his card stolen, he didn't realise for five days and the offender was able to use that card at stores where the payWave facility was available. It was a lot easier for him to use the card," Det-Sgt Leaman said.

"For five days straight he made several purchases per day and collected $500."

Det-Sgt Leaman said payWave was an additional reason to be vigilant about card security. "Unfortunately, sales assistants aren't that great at checking signatures these days, so a signature isn't that much extra peace-of-mind, but your PIN is," she said. "Make sure you're always in possession of your card ... check your statements daily."

Choice spokeswoman Ingrid Just said while new technology to increase consumers' payment options was welcome, there had not been sufficient public awareness raised about payWave before it was rolled out. "Some people weren't sure how it worked and had questions about security," she said.

"One of the frustrations for consumers was they weren't given the option to opt out."

Australian Bankers' Association chief executive Steven Munchenberg said PayPass and payWave saved consumers time and removed the need for a card to be handed over to a cashier.

Mr Munchenberg said consumers could identify a payWave-enabled card because all cards carry the Mastercard PayPass or Visa payWave logo. He said consumers still had the option of swiping.

"Contactless cards are secure. The cards use the latest encryption technology, and are processed through the same, reliable payment network as chip card transaction," Mr Munchenberg said.

He said cardholders were also protected from fraud by their bank and would not have to pay for any unauthorised transactions.

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