Insecure: Radio frequency identification (RFID), transmits bank details via its own radio signal and could be a fraud risk
Millions of credit and debit card users could be ‘robbed by radiowave’ because of new contactless technology being brought in by banks.
Almost 20million shoppers are now able to buy goods by simply waving their card in front of a reader at the tills, even if it is still in a wallet or a purse.
But industry experts have warned that the information emitted by the cards can be stolen by fraudsters using handheld receptors that cost as little as £7 on the internet.
It means cardholders – most of whom are given a contactless card automatically when their old one expires – can unknowingly surrender their personal bank details to a thief by simply walking past them in the street.