(MoneyNewsWire.Net, January 31, 2014 ) Grass Valley, California -- Grass Valley, California - During the early Christmas shopping season, November 27-December 5, it was been reported that about 40 million debit and credit card user information had been stolen from Target Stores. Target Store contacted the local authorities immediately and hired a third-party forensics team for faster resolution of the issue. Despite the security breach and reports of customers losing funds from their credit card accounts, customers continued their shopping.
Local banks enacted safety measures to protect their clients. JP Morgan and Chase issued withdrawal and transaction limits for their customers so as to prevent any illegal or conspicuous activity. Other banks monitored the accounts of their clients but did not do any as hard a decision as that of JP Morgan and Chase.
RFID is a chip that is placed on a credit card which contains all the account and client's information. With just one scan, it can be cloned and one's funds can vanish in just a few minutes. Although it has proved helpful for ease of transaction, it being so vital is also a flaw that needs to be kept safe.
What happened at Target seems to have been an "inside job". Protecting one's cards in an anti-theft card case, would not have stopped that action. But, it will keep high-tech pick-pockets from scanning your pocket or purse, picking up the RFID signal that the cards broadcast, and thereby having access to your accounts. Though these actions are different than the Target misfortune, the results to your account are the same.
There is no way to know where the hackers will strike next. But, there are some steps the individual can take that will lessen their vulnerability.
About Wylins Company
The Wylins Company promotes products for living. It is their goal to have every item from Wyllns be sensible and useful, never gimmicky or faddish. The company official website contains much more information about Radio Frequency Identification in credit cards.