Credit card fraud help

[bruceb]

Actually from what I have read, the cards the banks are using are RFID chip. That little square has circuits on it and it transfers it's data when it is inserted into a chip enabled point of sale terminal. Better safe than sorry, so use a decent RF blocking wallet or credit card case.

 

[Humpy]

I'm a little surprised at the number of concerns and precautions that are being suggested in this thread.

Almost zero shits are to be given about credit card fraud. That's the point, the card company makes a profit in exchange for assuming the risks.

 

[ch33zw1z]

Read up on EMV, implemention deadlines are in place, whoever is least EMV compliant is now liable, ie it will most likely be the merchant.

 

[Indiankash]

Read up on EMV, implemention deadlines are in place, whoever is least EMV compliant is now liable, ie it will most likely be the merchant.

Whats emv? Like the chip enable card readers or something? On my bank acc on the charge it said it was a automated fuel despensers

 

[ch33zw1z]

Yes, chip cards are EMV

Mag strips are more easily replicated. Since the information doesn't change.

Chip cards create unique transaction id's, making fraud more difficult.

Chip cards will eventually use NFC

Enough googling reveals chip card's have their own issues for now. We'll see how good it really is in the end

 

[ch33zw1z]

Whats emv? Like the chip enable card readers or something? On my bank acc on the charge it said it was a automated fuel despensers

File the written with your bank. They will likely credit you the money as long as it's credit purchase's as opposed to debit.

 

[kranky]

EMV is the name for the technology in chip cards. It stands for Europay MasterCard Visa - the companies that worked on development of the standard.

EMV cards are not the same as RFID cards. RFID cards are "contactless" - they can be read just by tapping it on a card reader. The reason EMV cards are secure is that they have a two-way conversation when a charge is being authorized when the chip is used, which cannot be duplicated. The reason EMV cards are not more secure is that in the US they still have a mag strip, which can be cloned.

 

[bruceb]

So here in the USA it is EMV and not RFID type cards. Good to know. And the only way they can clone the Mag Stripe is with a Skimmer attached to a Point Of Sale Terminal or if you let the card out of your sight, like in some restaurants.

 

[ch33zw1z]

USA is late to the EMV game. EMV here is known as chip card.

Correct, since the mag strip still exists on the card, fraud will still aim there, and non compliant merchants will be liable.