Online Fraud.

[catsnknots]

After being woken by a txt message this morning informing me that my card had been used last night in a suspected fraudulant manner and to call the banks Fraud Unit I had to get online and check and change some passwords just in case... 

I then read some emails... one was about Target US and how it had a data breach not long ago and the information had been updated... 

They first said that 40 million people were impacted but instead 110 million people had data breached. Apparently that is 1/3 of the population over there.... 

They have been offered free credit monitoring.... they will have to watch out for the rest of thier lives..... 

It makes me think about what I now need to watch out for and where they got my information from. 

[cherry*135]

Visa payWave cards only work when the card is within 4cm of the card reader and the payWave terminal can only process one transaction at a time. Because your Visa payWave card doesn't leave your hand during the transaction, you remain in control of your card at all times.

visa.com.au'

Surely you would notice if some scammer was only 4cm away from you waving some sort of card reader at your wallet/handbag?

Visa payWave-enabled cards are backed by Visa's Zero Liability Policy1and are as secure as any other Visa chip card

visa.com.au

The eftpos machines are owned by the bank..paywave/paypass transactions info is secure as using the card in the  chip reader.

[cherry*135]

EFTPOS transaction fraud happens when scammers remove an eftpos machine from a business (unnoticed) and replace it with one of their own (that looks the same). All the funds then go into the scammers bank account.

[purple_haize]

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@am*3 wrote:

Visa payWave cards only work when the card is within 4cm of the card reader and the payWave terminal can only process one transaction at a time. Because your Visa payWave card doesn't leave your hand during the transaction, you remain in control of your card at all times.

visa.com.au'

Surely you would notice if some scammer was only 4cm away from you waving some sort of card reader at your wallet/handbag?

Visa payWave-enabled cards are backed by Visa's Zero Liability Policy1and are as secure as any other Visa chip card

visa.com.au

The eftpos machines are owned by the bank..paywave/paypass transactions info is secure as using the card in the  chip reader.

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My bank told me it was not secure and not to use it.............you need to use the machine and put in your pin or sign.........if it was a secure way of doing it, my bank would have said so...........

[cherry*135]

How would a scammer access info that is being transmitted electronically to  visa/mastercard/bank? Paywave transactions have a limit of $100 or less (can be $30 in some stores). The newer eftpos machines are wireless.

They would need to be able to divert the money from going into the stores bank account to their own account...to commit fraud.

Fraud can happen if someone drops/loses their card and another person picks it up and can use the paywave function to buy items in stores. There is a daily limit too I think.

Some of the security features of Visa PayWave

• Your card never leaves your hand during the transaction
• Ultra short read range - cards can only be used within less than 4cm of the card reader
• Unique in-built secret "keys" that generate cryptograms to uniquely identify each transaction
• A secure microprocessor on the card
• The Visa payment network automatically detects and rejects any attempt to transmit the same information more than once
• Your name and three digit security code are never transmitted during a PayWave transaction

[cherry*135]

This is what my bank says about PAYWAVE

Even though you don’t need to swipe or dip your card, sign or enter your PIN for transactions less than $100, your NAB Visa payWave card is just as secure as your current credit card or debit card. It offers the same high level of security plus multiple layers of protection which include:

• The highest cryptographic and smart card technology available:
  NAB Visa payWave uses the same security that keeps your chip card and PIN protected.
• NAB Defence:
  Your account is assessed by NAB’s security experts, high risk transactions are monitored and any suspected fraudulent activity investigated.
• Our security promise to you:
  NAB will reimburse you 100% of any amount fraudulently removed from your account if, despite our defences, you’re a victim of fraud. Of course your responsibilities when operating your account still apply.
• Your hand:
  During a payWave transaction your card never leaves your hand. This greatly reduces the risk of your card details falling into the wrong hands and being used for fraud.

Online fraud (no card involved) is the biggest type of bank account fraud.

[azureline**]

Paywave NEVER works when I try to use it.

[monman12]

RFID chips and credit cards.

"Today's contactless cards don't make the user’s name, PIN, or permanent three-digit CVV code wirelessly available, they also use a one-time CVV code with each scan so as to prevent repeated fraudulent use. In six years of use, there reportedly haven't been any documented cases of this kind of fraud"

nɥºɾ

[purple_haize]

 I will do what my bank said to do AM*3, they must have some knowledge of things that have gone wrong with using this method.

I have full faith in my bank and they wouldnt tell me something if it wasnt true...........somewhere along the line there must have been problems with the wave system, so I dont intend to use it.

[catsnknots]

My son was looking into a CC swipe machine to use for his business, he has a PP one that did not work properly,  and came across an option to buy a machine that will accept paywave... That made us think that if you buy one can you use it yourself?  In reality probably not unless you are a crime gang that has the right tools. but it made us think it might not be safe. 

And if you need to be only 4 cm away well when I shop there are many people that you get that close too... hold one of those devices up to a persons back pocket or handbag and you might just have a winning scam. 

PH I did know it was the US Target stores, I read the articles and my talk about 1/3 of the US population being exposed for example shows that.... but I think it is a very interesting topic that a business like Target can have this malware on their system and could not detect it. 

How do we know our retailers don't have that same problem... or didn't in the past and that information already has been taken. 

[catsnknots]

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@am*3 wrote:

EFTPOS transaction fraud happens when scammers remove an eftpos machine from a business (unnoticed) and replace it with one of their own (that looks the same). All the funds then go into the scammers bank account.

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That was one of the things the guy on the phone was telling me... who allows a stranger to take their machine and "fix" it without first making contact with the company that supplies it?

The POSmalware was what appears to have caused the Target troubles... the malware was on the computer system of the company.