Sci-tech information: Watch out! Your phone is peeping at your bank card info
Chinese woman accidentally discovered that its Xiaomismartphone has the capability to steal bank card data via near field communication.
A report issued by the Nanjing-based Yangtse Evening News states that smartphone sproduced by Chinese Xiaomi are able to steal bank card data from wireless connections. Rumors reports that a woman from Nanjing has revealed to the newspaper that her new Xiaomi smartphone managed to automatically pick up private account details from a bank card stored in close proximity.
The woman, surnamed Feng, was surprised by noticing that the data was displayed directly on the display of her device, the data sent to the smartphone included the card number stored in close proximity and the account's last 10 transactions with related amounts and locations.
"Feng, who said she had not accessed her bank account on her phone or entered her password, initially thought it may have been the work of spyware, though she soon realized it was an automatic function because her bank card could still be read even after she closed all running applications." states theWChina Times.
The journalists at Yangtse Evening News decided to verify Feng's revelation and confirmed that near field communication (NFC) mode had been activated on her Xiaomi device.
"Near field communication (NFC) is a set of standards for Smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity. The standard describes a radio technology that allows two devices to communicate at a short distance, no more than a few centimeters, allowing the exchange of information quickly and safely." says news report..
The disconcerting discovery made by the experts in charge of the Yangtse Evening News newspaper is that the Feng's phone could retrieve details from a microchip bank card automatically in two seconds from within a range of about 10 centimeters.
Now image a classic scenario when in a crowded place, an attacker pass very close to your wallet, in this context, he can steal personal information from bank cardswithout the victim's knowledge. We have discussed many times on the securit
Feng declared to be shocked by the behavior of the smartphone and she believed Xiaomi should have warned its customers of this potentially serious security flaw that could expose them to the theft of personal information from bank cards.
"She said when she called customer support she was told that she could simply switch off the NFC function if she had concerns."
Keeping track of one's money used to be an arduous process. Some took a DIY approach by hiding gold coins under mattresses or burying dollar bills in back yards. Others avoided threats of roving pirates and shovel-happy neighbors by keeping their cash in banks. But this solution wasn't hassle-free. Hours were lost tracking pennies in handwritten registers, as well as commuting to banks to make deposits, transfers and withdrawals.
Enter the smartphone. Now we can manage our money by logging on to banking Web sites through mobile Internet connections or banking applications that link directly to financial accounts. We can even transfer funds via text message.
Mobile banking services like these aren't only for the tech-savvy; they've become a mainstream tool for the money-using masses. According to a report by Javelin Research, the number of people using mobile banking services increased from 19 percent to 30 percent in 2011. And, if gaps that threaten data security continue to be addressed, the percentage of those using mobile banking is expected to continue to increase.
For more sci-tech information, goes to: http://en.twwtn.com/Information/
Chinese woman accidentally discovered that its Xiaomismartphone has the capability to steal bank card data via near field communication.
A report issued by the Nanjing-based Yangtse Evening News states that smartphone sproduced by Chinese Xiaomi are able to steal bank card data from wireless connections. Rumors reports that a woman from Nanjing has revealed to the newspaper that her new Xiaomi smartphone managed to automatically pick up private account details from a bank card stored in close proximity.
The woman, surnamed Feng, was surprised by noticing that the data was displayed directly on the display of her device, the data sent to the smartphone included the card number stored in close proximity and the account's last 10 transactions with related amounts and locations.
"Feng, who said she had not accessed her bank account on her phone or entered her password, initially thought it may have been the work of spyware, though she soon realized it was an automatic function because her bank card could still be read even after she closed all running applications." states theWChina Times.
The journalists at Yangtse Evening News decided to verify Feng's revelation and confirmed that near field communication (NFC) mode had been activated on her Xiaomi device.
"Near field communication (NFC) is a set of standards for Smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity. The standard describes a radio technology that allows two devices to communicate at a short distance, no more than a few centimeters, allowing the exchange of information quickly and safely." says news report..
The disconcerting discovery made by the experts in charge of the Yangtse Evening News newspaper is that the Feng's phone could retrieve details from a microchip bank card automatically in two seconds from within a range of about 10 centimeters.
Now image a classic scenario when in a crowded place, an attacker pass very close to your wallet, in this context, he can steal personal information from bank cardswithout the victim's knowledge. We have discussed many times on the securit
Feng declared to be shocked by the behavior of the smartphone and she believed Xiaomi should have warned its customers of this potentially serious security flaw that could expose them to the theft of personal information from bank cards.
"She said when she called customer support she was told that she could simply switch off the NFC function if she had concerns."
Keeping track of one's money used to be an arduous process. Some took a DIY approach by hiding gold coins under mattresses or burying dollar bills in back yards. Others avoided threats of roving pirates and shovel-happy neighbors by keeping their cash in banks. But this solution wasn't hassle-free. Hours were lost tracking pennies in handwritten registers, as well as commuting to banks to make deposits, transfers and withdrawals.
Enter the smartphone. Now we can manage our money by logging on to banking Web sites through mobile Internet connections or banking applications that link directly to financial accounts. We can even transfer funds via text message.
Mobile banking services like these aren't only for the tech-savvy; they've become a mainstream tool for the money-using masses. According to a report by Javelin Research, the number of people using mobile banking services increased from 19 percent to 30 percent in 2011. And, if gaps that threaten data security continue to be addressed, the percentage of those using mobile banking is expected to continue to increase.
For more sci-tech information, goes to: http://en.twwtn.com/Information/
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