Credit card scams are about as old as credit cards themselves, but electronic pick-pocketing is a relatively new threat to your credit card security. It's creepier than most credit card scams too, because it lets thieves secretly scan a back pocket or purse to read information off credit card equipped with RFID (Radio Frequency Identification Technology). These cards allow you to tap readers at gas stations pumps or check-out counters. They can also pick up identification information on RFID-embedded passports.
This capability has been around for a while, but it's gotten a lot more attention ever since the Fox affiliate in Memphis aired a story about it a couple weeks ago.
In the report, a man using a card reader and netbook was able to walk up to several people and engage in credit card "skimming," as it's called. He picked up credit card numbers, names and expiration dates for random passersby, none of whom he actually touched.
One piece of information RFID does not transmit is the CVV (Credit Verification Value) security codes on each credit card, according to Snopes. That's the three-digit code on the back of every credit card that most, but not all, e-retailers ask for when making a purchase. And because this credit card scam doesn't steal the actual card, just the information on the card, it's useless if it can't be used at an e-retailer like Amazon.
Even though there are approximately 140 million Americans with RFID-enabled credit cards, there have been no reported instances of credit card numbers being stolen this way. But that could be due to the fact that so many don't know this technology exists. I certainly didn't know this credit card scam existed before today.
Most people don't know this could happen to their credit card, but the government has known about it for years. That's why many government employees have to wear a special "jacket" for their government IDs. And there are security sleeves you can purchase, like these from Identity Strong, which prevents card readers from getting the information encoded in RFID chips.
So, do you think this is a serious threat to your credit card information, or a lot of people getting scared for no reason? Will you do anything more to keep your credit card numbers away from "electronic pick-pocketers"?
[taken from an article http://news.discovery.com/tech/electronic-pick-pockets-target-credit-cards.html]
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