Quote:Skimming is a technique in which thieves would place false fronts to outdoor ATM and gas pump terminals to steal the details off of a card's magnetic stripe.
It only worked when customers would swipe their card, so the chips were put on credit cards to get customers to stop swiping their cards and instead insert the card into a chip reader machine.
How to combat this? Put chips in cards so users insert cards into the machine rather than swipe it.
Brilliant! Finally!
so... now when you put your chip card in the slot...
Quote:Through shimming, scammers secretly insert a shimmer, a paper-thin, card-size shim containing an embedded microchip and flash into the card slot.
When a customer inserts their card into the machine, their information is stolen and then stored on that microchip already in the machine.
It's also harder to find those responsible for placing the shim in the machine because when scammers return to collect the shim, they appear to be doing nothing more than completing a transaction.
How many millions of $$$ was poured into chip technology for cards?
How many millions of $$$ was poured into the transition from swipe cards to chip cards?
this is always going to be the case though. It's almost impossible to stop dedicated criminals and with tens of trillions of dollars of transactions globally, you don't have to capture much to be well off as a crook with little effort.
I would have perhaps stuck with the slides, and added measures that detected skimming instead to catch and prosecute people. Make them spend time and money fighting charges rather than 'investing' in beating the latest tech
(06-06-2018 04:30 PM)Hambone10 Wrote: this is always going to be the case though. It's almost impossible to stop dedicated criminals and with tens of trillions of dollars of transactions globally, you don't have to capture much to be well off as a crook with little effort.
I would have perhaps stuck with the slides, and added measures that detected skimming instead to catch and prosecute people. Make them spend time and money fighting charges rather than 'investing' in beating the latest tech
Whoever thought changing the way cards are used would solve the root cause wasn't too bright. Primarily, because the root cause wasn't "skimming tools". Instead, it's dishonest people who use skimming tools -- and now shimming tools. That's the real root cause.
And I also posted this article because it's an example showing that the "tool" used to steal isn't the problem. It's the person choosing to steal.
Try as we might, we can't stop bad behavior with laws, technology, new laws or new technology.
(06-06-2018 04:49 PM)Paul M Wrote: Embed the chip in say a forehead or hand.
That day will be here soon enough.
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Watch out pigeons, you'll be my main meal. I think I'll move to the Louisiana outback and live in a shack with alligators as my neighbors and my dinner.
I was in banking a long time. My solution is use cash anytime possible, especially restaurants where card theft in rampant. Use your credit card to buy prepaid gas cards or to buy prepaid Visa cards and then use those around town.
(06-06-2018 04:30 PM)Hambone10 Wrote: this is always going to be the case though. It's almost impossible to stop dedicated criminals and with tens of trillions of dollars of transactions globally, you don't have to capture much to be well off as a crook with little effort.
I would have perhaps stuck with the slides, and added measures that detected skimming instead to catch and prosecute people. Make them spend time and money fighting charges rather than 'investing' in beating the latest tech
(06-06-2018 04:30 PM)Hambone10 Wrote: this is always going to be the case though. It's almost impossible to stop dedicated criminals and with tens of trillions of dollars of transactions globally, you don't have to capture much to be well off as a crook with little effort.
I would have perhaps stuck with the slides, and added measures that detected skimming instead to catch and prosecute people. Make them spend time and money fighting charges rather than 'investing' in beating the latest tech
Fingerprint embedded/enabled cards ?
That's not too much mark of the beast, is it ?
It is for me. I once had to take a night job at the FEDEX hub for family insurance for about 9 months. I was self-employed, and my wife took 3 years off from work for the birth of our 3rd child. This was AFTER 9-11, mind you. I was infuriated that they required all 10 of my fingerprints to send to the FBI for a security check, but I gave in anyway. Couldn't go without insurance, which pisses me off.
I'm trying to get back to cash and checks only.
(This post was last modified: 06-07-2018 09:35 AM by geosnooker2000.)
(06-07-2018 09:46 AM)SoMs Eagle Wrote: Facial recognition or iris scanning is coming and there will be no ‘legal’ cash. The government will demand it and make us pay for it.
This is the PERFECT example of what I'v been saying for years.
Imagine what we could accomplish as a society if these people put as much effort into being creative and productive as they do into being a criminal scumbag.
(06-07-2018 10:54 AM)BadgerMJ Wrote: This is the PERFECT example of what I'v been saying for years.
Imagine what we could accomplish as a society if these people put as much effort into being creative and productive as they do into being a criminal scumbag.
If we restructured the system to alter the risk/reward matrix, we might just get there.
