RFID stands for Radio Frequency Identification.
It is a relatively new technology which in the right hands helps industry track inventory (eg: mail) by reading and tracking tags attached to inventory. This technology replaces bar code technology. The benefits are that the tag can be read inside the case, carton, box, container without being near a reader...ie remotely accessed.
In the wrong hands, thieves can develop Radio Frequency reading applications on their mobile phone or portable POS devices and being within metres of you can read the information from your chip on your credit card, licences, government ids, passports...within 12 seconds.
The information on the chip, depending on which card, contains your bank details, full name, address, licence number, passport number , etc.
A thief uses this information to:
- apply for a credit card in your name
- open a bank account in your name
- apply for a driving licence in your name
- apply for a passport in your name
- run up debts on your credit cards or apply for a loan in your name
In 2014 20% of all fraud losses relate to new account fraud and this has jumped 113% in 2015 according to a new report from Javelin Strategy & Research. New account fraud means the thieves are stealing your identity and creating a new credit card or passport or licence with your details for their use.
PROTECT YOUR IDENTITY
At all times keep your credit cards, licences, passports protected from RFID thieves.