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PRESENTED BY: FATIMA ALSALEH Credit Cards Fraud - skimmers - Slide 2 Outlines Introduction What is RFID? RFID usage The scam What is skimming? Skimming in credit cards Protection Are we secure enough? 2 Slide 3 Introduction Credit cards use Credit cards loaded with magnetic tape or RFID technologies were designed to make your life much easier. It enables card holder to make purchases, get passed or registered in seconds with just a swipe near the reader! 3 Slide 4 What is RFID? Definition RFID stands for Radio-Frequency Identification. The acronym refers to small electronic devices that consist of a small chip and an antenna (sensor). The RFID device serves the same purpose as magnetic strip on the back of a credit card or ATM card; it provides a unique identifier for that object. the RFID device must be scanned to retrieve the identifying information. 4 Slide 5 RFID Usage Recently, RFID became more used (implanted) in credit cards, banking account cards, driving license, passports and ID cards. All US passports since 2006 is loaded with the RFID technology that can be read and swiped. 5 Slide 6 How can you tell that your credit card is loaded with this technology? Many people may not even know they have it. It can be identified by the following symbols: Radio symbol Pay pass word express pay word 6 Slide 7 The scam Credit card fraud Today there is more anonymous, sophisticated, and dangerous technique to defraud you All it takes is a device that can easily be purchased online. This type of fraud is known as card skimming 7 Slide 8 Skimming Definition Its the theft of credit card information used in an otherwise legitimate transaction. The thief can obtain a victim's credit card number using basic or advanced methods such as using a small electronic device (skimmer) to swipe and store hundreds of victims credit card numbers. Contactless cards make its holders vulnerable to untraceable crime.. 8 Slide 9 How do they steal the credit card information? The contactless cards skimmer Three simple steps: 1.Hide the skimmer tool. 2.Target a victim 3.Scan and extract 9 Slide 10 321 Hide, scan and extract! How the robbery is done 10 Slide 11 The problem of this type of fraud 1. Traceability virtually anyone can get their hands on a card reader machine for less than a 100$ online. The technology is a dream come true for electronic pickpocketers because the crime is virtually is untraceable, unlike other crimes. Victims have no idea that they have been ripped off. 11 Slide 12 The problem of this type of fraud 2. Credit card companies claim The major credit card companies insist that their cards are secure because of multiple built-in security features. Companies claim that without the 3 digits security code on the back of the card, no online\phone purchase can be done. However, some companies never ask for the code. 12 Slide 13 13 Using the sealed card information Purchasing goodies online Slide 14 Other skimming methods 1. Phishing Call centers are another area where skimming can easily occur. Just like Alrajhi bank famous scam, where criminals calling and pretending to be banks employee asking for card renewal. 14 Slide 15 Other skimming methods 2. ATM skimmers | Devices are placed over the card slot of an ATM which reads the magnetic strip as the user passes their card through it. These devices are often used in conjunction with a camera to read the user's PIN at the same time 15 Slide 16 Other skimming methods ATM skimmers || Another technique used is a keypad overlay that matches up with the buttons of the legitimate keypad below it and presses them when operated It records\transmits the keylog of the PIN entered by wireless. 16 Slide 17 Protection Against contactless cards (RFID) exposure wrap the card with an aluminum foil that will keep the radio frequency from being able to be transmitted. Or use special purses and wallets that have aluminum foil lining that blocks all radio signals. 17 Slide 18 Protection Against general credit card fraud Card skimming may be sophisticated, but there are still some basic things you can do to protect yourself: o Cover your keypad o Watch your card o Pay up front o Notify someone o look at your credit report more often o Apply for notification service (SMS. Email, etc.) o Be more careful with the financial and personal information. 18 Slide 19 Are we secure enough? My opinion Short answer is, no. Detailed answer: o enough is almost the goal because its simply the perfect balance between the protection and availability. o The big concern here is that these companies are aware of the discussed topics, yet no action was taken 19 Slide 20 WISH YOU ALL SECURE PAYMENTS THANK YOU