| December 8, 2010

New high-tech pickpocketing could put credit cards at risk

Consumers have been taking steps to secure their credit cards in recent months by cutting down on debt and reducing payment delinquencies.

However, a new report suggests vital credit card information could be at risk from a new high-tech initiative by thieves.

Nearly 140 million people could be at-risk for this new crime spree, the reason being radio frequency identification technology, which is found in everything from passports to conventional debit and credit cards, The Baltimore Sun reports. However, this new technology is being exploited by those looking to steal from consumer funds.

“If I’m walking through a crowd, I get near people’s back pocket and their wallet, I just need to be this close to it and there’s my credit card and expiration date on the screen,” Walt Augustinowicz, founder of Identity Stronghold, told the news source.

In addition, experts say the crime may be untraceable as crooks are able to provide the basic information they need to outsmart most consumer protections.

Despite the threat, members of a Maryland identity theft investigation team say they’ve never seen a case of the RFID technology being used to steal information.

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