NFC technology becomes a popular target for thieves
NFC technology has been receiving more attention recently due to the rise in popularity of mobile commerce. NFC is not a new technology, but it is still relatively young when compared to other types of mobile technology. Before NFC was being used in mobile commerce, it was being used in credit cards as a way to facilitate contactless payments. Now, NFC is beginning to attract the attention of malicious groups that are eager to steal a consumer’s financial information.
Digital pickpockets becoming more common in Asia
NFC allows for digital information to be transmitted over short distances, which makes it immediately useful for the purposes of mobile commerce, but it also makes the technology somewhat exposed to exploitation. In Asia, groups of hackers are beginning to target NFC-enabled bank and credit cards in order to access a consumer’s financial information. These “digital pickpockets” are exploiting the growing popularity of mobile commerce throughout Asia, hoping to take advantage of fledgling mobile commerce platforms that have yet to acclimate to the security threats that exist around them.
Security threats exist for those interested in mobile commerce
The way that these pickpockets steal digital information is relatively straightforward, yet difficult to identify before it is too late. Because NFC technology allows for contactless data transfers, these hackers can use NFC technology to access a consumer’s financial information without coming into contact with their target. This is accomplished through modified mobile devices that can intercept NFC transmissions. Once this information is acquired, the pickpockets typically sell this information to criminal syndicates that can make use of it with little difficulty.
MasterCard works to thwart mobile security threats
MasterCard is one of the companies that are taking this matter very seriously. Mobile commerce itself is already rife with security threats that go mostly unnoticed by consumers. MasterCard is keen to address these issues by raising awareness of the potential threats that consumers could face through their use of NFC technology as well as introducing new security features to the NFC-enabled cards they issue in Asian markets.