Don't dash to buy RFID-blocking gear
Radio-frequency identification is a nifty technology that uses electromagnetic fields to automatically identify and track tags attached to objects. The tags store data electronically that special readers can pick up. These systems are used in tons of industries; you’re probably most familiar with toll tags for your car and implanted “chips” that can identify a pet. Both employ this useful idea, which goes by the shorthand RFID.
RFID-blocking products claim to prevent credit cards or passports from being electronically filched by crooks. In theory, a criminal could buy an RFID reader for less than $100 and use it to scan unsuspecting passersby pockets and purloin their credit card numbers, a scam known as RFID skimming. Niche products to fight this threat have grown into a cottage insdustry.
Now, RFID-blocking is a standard feature in so-called “smart” wallets; you can even buy shirts and jeans with RFID-blocking pockets.
Are these products worth buying?
In a word, no.
The information electronically stored on your card’s chip isn’t enough to complete a transaction. What’s more, the whole system for approving transactions is encrypted. Thieves might be able to glean some information, but unless they physically look at the back of the card for the three-digit code on the signature strip, they can’t process a transaction online.
As for passports, you’re safe. Everything is encrypted and can be read only by authorized, authenticated readers. In fact, passports issued after 2007 already have covers that block RFID signals. If you have a valid passport, in other words, you have one of these covers.
Bottom line: The information skimmed is no longer enough to enable a thief using RFID to steal your identity.
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Equifax claim update
Credit-reporting agency Equifax offered to pay victims of the breach of its network $125 as part of a settlement offer. If you signed up to receive such compensation, don’t hold your breath. Why? Because now, in an email to people who have applied for the money, Equifax says it is requiring claimants to verify that they had some kind of credit monitoring or credit protection in place and will continue to do so for a minimum of six months from the date they filed the claim.
Your other option is to amend your claim for a cash payment and ask instead for four years of credit monitoring. If you take no action, your claim for cash compensation likely will be denied. And remember, even if you are able to provide proof of monitoring, you will still probably not receive the whole amount of $125 because the amounts actually paid will depend on the number of claims deemed valid.
Go to Equifax’s website at https://secure.equifaxbreachsettlement.com/en/amendclaim to verify or amend your claim.
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Email watermarks are coming
Email was a great way for businesses to communicate with customers. Not only was this an easy form of communication, but also a relatively inexpensive way to keep in touch with customers. Unfortunately, scammers figured this out. They’ve wreaked havoc to the point of frustrating many businesses, particularly in financial services. Many customers delete legitimate emails under the assumption they’re fraudulent.
To address this, a new industry standard is being developed that can verify the accuracy of email messages with sensitive information. Many organizations, including Google, have worked on the technology.
We’ll see a digital symbol — but we must know to look for it. The validation process is designed to prevent crooks from coming up with their own fake marks. That way, customers can be sure the emails are coming from a valid source. We’ll see over time if the verification marks are effective. In the meantime, it’s still a good idea not to click on any link in any email you’re not absolutely sure is from a trusted sender.
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If you’ve encountered a consumer issue that you have questions about or think our readers should know about, please send me an email at terridickersonadvocate@gmail.com or call me at 208-274-4458.