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Russian POS Pickpocket Generates New Interest In RFID-Blocking Wallets (thestack.com)
An anonymous reader writes: A Facebook post depicting a man apparently stealing from commuters by tapping a POS reader against them unobserved on public transport caused a sensation on Facebook before being removed earlier today. The provenance of the photo is uncertain, but unnamed authorities have said that it was taken in Russia. Since this type of opportunistic street theft requires a merchant business account through which any transactions would be easily traceable, the question arises as to how such acts of fraud are being made profitable. Comments on the matter have brought up anew the topic of RFID-blocking wallets as necessary everyday security.
"the question arises as to how such acts of fraud are being made profitable."
"Comments on the matter have brought up anew the topic of RFID-blocking wallets as necessary everyday security."
Seriously? You weren't able to see that relation?
Read your own text slowly. This time, try to think while you read.
Ok. I'm not sure you'll manage it. Let's try a simpler with the key words in bold:
"OMG! How will anyone make a profit out of this?!" followed by "It's time to buy an RFID-blocking wallet!"
Nope. The object in his hand looks just like the contactless payment (combined with chip and pin) devices that are all over the place (in the UK anyway). Granted it doesn't look like the telepower device on the right side of the picture but certainly DOES look like a contactless payment device.
This doesn't rule out the story being BS for all the other reasons you give like needing to be tied to a traceable account...