Stealing Information for Credit Cards...Wirelessly?

With the improvement of technology comes the an onslaught of new criminals finding innovative ways to take advantage of consumers. In the case of credit cards, passports and other methods of identification, convenience comes at a price. The latest identification technology is found in Radio-frequency identification (RFID)-enabled credit cards. RFID chips transmit information through radio frequencies to data receivers. American Express' ExpressPay or Chase's Blink card use RFID technology to make purchases quicker and more convenient via a simple hover over a RFID receiver.

Unfortunately, the recent technology has presented a new opportunity for ID thieves. While certain companies claim that their chips are built with a strong encryption and send one-time temporary codes that do not match the card number, researches from University of Massachusetts say otherwise. After building a scanner, researches were easily able to "skim" the cardholder name, number and expiration in plain in English, with no problem. Originally, those who wished to steal credit card information could only do so, visually, after one took their card out of your wallet. Now in exchange for the convenience of the consumer, thieves can steal your information conveniently via scanner or suped up laptop. Not only credit cards are targeted but ePassports, IDs and security cards.

Fortunately, to counter the "skimmers", many wallet companies have come out with a line of nickel-impregnated RFID blocking wallets. Some brands like DataSafe charge $50 to $180. Others can go with the cheaper alternative and line their wallets with aluminum foil.