In recent years, payment methods have undergone major changes. Although some institutions, such as the Spain Bank, say that physical money remains the most used option, digital payments such as contactless cards and mobile devices have been gaining popularity.
NFC Technology
Thanks to Near Field Communication (NFC) technology, just approach a card, smartphone or smartwatch to an automatic payment terminal (TPA) to complete a purchase without the need to introduce a PIN code for lower values. Technological evolution has been making payments faster and more practical, facilitating the daily life of consumers.
Not everything is positive points
However, this same modernization brought with it new challenges, namely the increase in financial fraud, which exploit vulnerabilities of digital systems. Despite the convenience of this system, experts warn of the risks involved.
Ease of payment without contact has become a target for simple but effective fraudulent schemes that have been affecting more and more victims, says.
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Fraud with TPAs: as the criminals operate
One of the most common methods used by criminals is the use of portable payment terminals to remove small amounts of money without the victim realizing. This scheme is often practiced in busy places, such as public transport, shopping centers or streets with a large flow of people.
The robbers discreetly bring a TPA to the victim’s wallet or pocket and, if a contactless card is accessible, the terminal can automatically process a payment.
NOT USING PIN
As this type of transaction does not require the introduction of PIN for low values, theft happens quickly and silently. The victim, in most cases, only realizes the fraud when consulting his bank statement and identifies unknown transactions.
How to avoid being a victim of this type of fraud
Although this scheme is relatively simple, there are several ways to protect yourself against it. Set a maximum limit for contact without contact: Most banks allow you to set up a maximum value for contactless transactions, which requires the introduction of PIN to higher amounts, making it difficult to action criminals.
Storing multiple cards together: Keeping multiple NFC technology cards in the same wallet can interfere with TPA reading, preventing fraudulent payments.
Old -fashioned
Disable Contactless function: Some banks provide the option to disable payments without contact through mobile application or customer support service. This can be a good alternative for those who rarely use this functionality.
Using RFID protection wallets: There are wallets made with materials that block NFC and RFID signals, such as carbon fiber or aluminum, preventing fraudulent terminals from being able to access card information.
Practicality
Despite the associated risks, contactless payments remain a practical and safe solution, as long as consumers adopt preventive measures to avoid falling into fraudulent schemes.
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