Electronic Pickpocketing Hype Banks on Your Fear!
Electronic Pickpocketing is Possible, but Over-Hyped.
There is a new wave of hi-tech identity theft that allows thieves to steal your credit card information using inexpensive technology to intercept credit card (and sometimes even passport) information without even touching your wallet. Watch the video to the left or read our Electronic Pickpocket post to learn the basics.
And make sure you pay attention to the fact that the person they are interviewing for the news piece in the video MAKES MONEY FROM YOUR FEAR OF ELECTRONIC PICKPOCKETING! The gentleman they interview runs a company that makes shields for your credit cards and passports to stop electronic pickpocketing. I’m not saying that the products don’t work or aren’t somewhat valid; I’m saying that you have to take this gentleman’s perspective into consideration before buying the hype. He benefits from your fear, so do a little more research before you go gettin’ all paranoid.
The amount of hype this old form of theft is receiving (yes, this has been possible for years, despite all of the attention it’s getting now) is a bit overblown. Here are just a few reasons why:
- The person being interviewed in the video benefits from your fear of electronic pickpocketing.
Electronic Pickpocket Video – Identity Theft Expert
There is a new wave of Hi-Tech Identity Theft that the average person has no idea is possible. Identity Thieves are able to steal your credit card information without even touching your wallet.
RFID, or radio-frequency identity technology was introduced to make paying for items faster and easier. What many probably didn’t expect is that the same technology can be used by thieves to get your payment information just as easily. All major credit cards that have this technology have a symbol (pictured to the right). It means that your card can communicate via electromagnetic waves to exchange data (your credit card number) between a terminal and an electronic tag attached to an object, for the purpose of identification. With a quick scan of the card, the same way you would scan it to pay for items, all of your payment information is directed towards a source or identity thief’s computer in this case.
With a laptop and an antenna, it’s possible that a virtual pickpocket can steal credit card information, without ever touching their victim. All that is needed is a credit card reader that you can purchase online and a laptop computer. With a simple scan the crook can lift your credit card number, expiration date, and in some cases your name. Since 2006 all U.S. passports also have RFID technology so identity thieves are able to scan those just as easily and pick up more personal information in order to rip you off. These passports contain specific contact information as well as date of birth.
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