Managed Hosting News

 Friday, 30th March 2012, 14:22:30

Visa customers exposed to mobile fraud

Visa customers exposed to mobile fraud

Consumers who use Visa contactless cards are in danger of having their details read by a mobile phone app.

Contactless cards (indicated by a symbol which looks similar to a Wi-Fi transmission indicator), have a microchip which stores all the customer's information.

However, a report by Channel Four News found that an off-the-shelf mobile app can be used to read almost all the personal details necessary to make an e-commerce purchase: the name, number and expiry date.

It uses the NFC feature built into some Android phones, and the amount of information given depends on the type of card and the issuer.

Researchers from viaForensics were able to use these to order goods through Amazon by setting up an email address and having the goods shipped to an address which does not match that of the card holder.

There are currently around 19 million contactless cards in circulation in the UK, 13 million of which are from Barclays.

Visa responded to the investigation by acknowledging that details could be gained but stating that they were not useable without the three-digit CVV number on the back of the card.

"So long as the appropriate levels of security are upheld when verifying a payment, it should not be possible for a fraudulent transaction to take place.

"We will continue our work, alongside card issuers and merchant acquirers, to ensure that retailers have the required security procedures in place to protect against fraud," a spokesman said.

However, Channel Four found that there are "hundreds of websites" which do not require the CVV code to make a transaction.

The broadcaster has called for Barclays to consider recalling the 13 million credit and debit cards it has in circulation.

Consumers who are concerned about having their details read can keep their cards in a shielded wallet, which uses a thin sheet of metal to prevent them from being scanned.

Posted by Phil Williams

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Categories:  |  Security  |  


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