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Thursday, February 13, 2014

INSY 440: Post 4: February 2014: “Smart” Fraud Hits Close to Home!


Fraud in the 21st century, that is to say, fraud today via and thanks to the internet connection is seeing new dimensions. In fact, close to home, to be precise, in one of the outskirts of Montreal, data from almost 300 credit cards was stolen.


What is even more surprising is the fact that data from these credit cards came from “a single location in Longueil.” Similar attacks have also been seen in, amongst others, Vancouver, Brazil, Spain, France, and South Korea.


Since the beginning of time, change has occurred in various ways, forms, and shapes. And in the centre of all this change has been the change in technology. Like with everything, some people will resist change and some will tackle it. The point I am trying to convey here is that ‘we shouldn’t stop using credit cards,’ just because we are afraid our credit cards will get hacked for instance. Rather, we should see what possible solutions are available.


In the case of credit cards, one may use a “sleeve” for their credit cards. This will prevent data to be stolen, while you are on the go, because one can easily by an RFID credit card reader online.


However, to protect your actual transactions of credit cards, be vigilant of the stores you are using them at. Make sure they have proper security systems that are not only protecting your real-time transaction data, but also data they store on you.


It is important though to point out that even big stores are vulnerable, just take the Target breach as an example. Nevertheless, you can "still" try to avoid shady gas stations, depaneurs, and so forth.


All in all, one should remember, at the end of the day, as we embrace more the “internet of things,” we are also embracing the “internet of [fraud]” as well. And as we make all good things in life more and more “SMART,” we are also ‘smartifying’ the bad. "Smart" Thieves today are smart than ever now, and we should keep up with them!

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