Contactless card fraud is a rising problem and I had no idea!
When I say contactless cards, I’m referring to the debit and credit cards you simply hover over the payment machine. They may be convenient for paying quickly but I didn’t realise they’re also very vulnerable to fraud and identity theft.
Up until now I would consider myself quite knowledgeable about the technology I use. I know not to click any old link on an email, plus I vary my passwords and all that jazz. It seems I’ve missed a trick when it comes to contactless card theft though.
Did you know thieves can read your card without you knowing?
I didn’t realise thieves can read a contactless card even it’s in a purse or wallet. All they need is the right equipment and be within a meter or two and hey presto they can get what they like.
So in short no matter where you are if someone’s near you with the right kit they can read your contactless card. Then use the details to clone the card, steel identity, your money, you name it!
Contactless technology isn’t just in credit and debit cards it’s also used in access door cards, phones and I believe some countries use it in passports. So the scope of this kind of fraud is massive.
So how do you stop contactless card fraud?
British company Vaultskin currently launched a Kickstarter campaign for their new contactless protection device called the Vaultcard.
The Vaultcard is a great little device that’s actually the same size as a credit card and looks like a one too. The Vaultcard works in a really ingenious way. Simply slip the Vaultcard in alongside your credit and debit cards and you are protected. When you come to pay for something take your card out, make sure it’s at least 8″ away from the Vaultcard and your payment can be made as normal. As easy as that.
A simply great feature besides it’s ability to block thieves is the card doesn’t need any batteries. It’s always switched on, ready and waiting.
The Vaultcard Kickstarter projects is currently over the original £15,000 target by a whopping £81,000+ with days to go. Over 2,500 people have bought into Vault card which says a lot to me. With a RRP of £25, not a bad price really considering it can protect all the cards in your purse or wallet.