PayWave scam...*

[A Swallow]

In light of the growing popularity of the PayWave EFTPOS machines, I've been thinking (not often a good thing).
What if an individual was to register a false business with a financial institution that offered portable PayWave EFTPOS machines, and use it to steal money from passers-by in crowded areas? The name that appears on the victim's bank statement could be something random like "The Station", and the amounts could be completely random (providing they remain under the $100 PayWave limit). It would only take a slight "incidental" collision to the right area of someone's body, and a PayWave transaction could occur, could it not? This could go unnoticed for some time, or even all together.










* I in no way endorse this sort of criminal behavior, or suggest it as a logical course of action.

 

[Igloo]

All the criminals reading this just got a brand new idea.

 

[Umpa Lumpa]

All the collingwood supporters reading this just got a brand new idea.

We all know that's what you wanted to say

 

[Jobe Watson]

This is already happening. I've seen a report about it on the news, and they had an industry expert try it out. Basically he had a fake business folder with the scanner inside. He just walked past random people, waved the folder next to their pockets, and had all their information on his screen within seconds.

 

[exe ex machina]

There are credit card-sized envelopes you can buy cheaply that protect you from having your RFID chip info stolen remotely. Something in the paper that blocks/disrupts remote transmitters.

 

[Bunk Moreland]

It happens already. Seen reports about it.

Basically it never makes huge news because theres not huge money in it. No victim ever gets completely ruined. Nobody loses their life savings or anything. People might have $20 or something lifted. A few people notice, they inform the bank, a pattern quickly forms and the bank obviously knows where the funds are being directed to. They're caught / shut down very quickly. It's e-fraud, tracks and virtual fingerprints are left eveywhere.

Very short window for these scams, perpetrators get found out very quickly, and are unable to profit massively because they can only lift small amounts from each card. There's a hell of a lot of people who pay close attention to their bank accounts, only takes a couple to pick up transactions they know they didn't make.