New Identity Theft Technology Fails to Protect

Nuclear Elephant writes "According to BBC News, identity thieves are quickly adapting to new technologies such as chip-and-pin credit cards using human nature tactics rather than cracking the technology. At least that's what Dr. Emily Finch (UEA), who interviews career criminals about their activities, claims. Finch swapped credit cards with a male coworker and performed a number of transactions without being challenged by cashiers. Finch also believes biometric identity cards will only exacerbate the problem. Regardless of which side of the fence you sit on, could this take us closer to embedded chips under the skin?"

Comments

As the T-shirt says

[Emeye]

...there is no patch for human stupidity.

It was said better...

[greginnj]

and earlier, by Schneier:

"If you think technology will solve your security problems, either you don't understand the technology, or you don't understand the problems."

Credit card companies don't care

[bigtallmofo]

Why would anyone think that the credit card companies would ever care about identity theft? Sure, it does cost them some money. But by far the cost of identity theft is placed on merchants. If someone disputes a charge on the credit card bill, the credit card companies merely take the money back from the merchant.

As a glaring demonstration of how unconcerned credit card companies are about theft, on the same credit card I had someone fraudulently use it three times. Each time I asked for a new card with a new number on it. Each time the issuing bank (Citibank) said, "Let's just wait to see if it happens again". I had to insist on the third time because I was sick of dealing with it.

When they can just pass costs onto merchants and consumers, is it any wonder they're designing ineffective solutions?

Take my cards, dont' rip my arm away !!!

[Anonymous Coward]

Considering the level of violence some criminals (drug addicts etc) are willing to use on their victims, I'd rather keep my money/cards on my wallet and don't want to have any hard-to.remove RFID chips at my arms.

Credit Cards

[flajann]

Security is an illusion; Credit Card security doubly so.

There is no substitute for hard Commonsense. Signatures are meaningless. Retailers are interested in making the sale and not annoying the customers with suspicion.

In my case, my signature cannot fit on that tiny space provided on the credit card, and so resembles nothing like it. Most clerks will make a perfunctory "check" of signatures, if they even bother.

Regard your credit card like you would cash, since there is little more security involved. Though, most institutions that issue Credit Cards and increasingly Debit Cards will give you a chance to dispute charges and have them removed.