Get rid of ‘dangers’ during ATM transactions…
ATM
8 Golden Rules to keep your ATM transactions safe and secure
Source.SBI.
Scary!
What can one say?
The EEG results for a target and a non-target stimulus
Story:
The idea is simply this: have your brain mapped by sensors (here, an EEG or Electroencephalograph is used), which pick up crucial brain activity and then sophisticated software can help understand what it is that the brain is trying to do! These are called ‘brain-computer interfaces’ (or BCI’s) for obvious reasons.
These can actually help you mentally control your computer using specific thought patterns.
What is interesting is how a computer can browse through your mental database and steal away some pieces of sensitive information. Security researchers from the Universities of Oxford and Geneva and University of California, Berkeley have developed a program to be used by the software that has only one purpose – finding information like home address, debit card PIN and date of birth. They found 28 willing participants, who didn’t know about the hacking (of course, otherwise the whole exercise is futile, right?) and tested this program on them. The success rate varied from a mere 10% to a respectable 40% for different fields of sensitive data.
The technique is a lot like hacking passwords. The key response tracked by the program is known as a P300 response – the brainwave activity that the brain undergoes when it recognizes something familiar, like a known face, own neighbourhood, own debit card PIN and so on! The peaks in the P300 activity were noted and the analysis of this data can give a very good indication of what the right answers are!
http://techie-buzz.com/science/brain-hack.html#eDGHFT0axkrQayOF.99
Image by 401K via Flickr
I normally abhor Credit Cards.
At best I would go for Debit cards, the reason being if you have money you spend and do not spend anticipating income.
However to day it becomes difficult with out using either Credit/Debit Cards.
Though the chances of your bring fleeced by processing fees and cumbersome Billing Process,there are people like my daughter who has never paid a fine or excess in addition to using the Card to its fullest .
The selection of credit card is difficult.
I have come across some information which I am reproducing below.
“CardRatings.com is the most comprehensive free source for comparing credit card offers and has helped millions of consumers research and find the best credit cards. If you are in the market for a new card, choose from among our featured cards below and apply easily and securely online.
Image via Wikipedia
When a thief forced you to take money from the ATM, do not argue or resist, you might not know what he or she might do to you. What you should do is to punch your PIN in the reverse…
Eg: If your PIN is 1234, you punch 4321.
The moment you punch in the reverse, the money will come out, but will be stuck into the machine half way out and it will alert the police without the notice of the thief.
Every ATM has it; It is specially made to signify danger and help. Not everyone is aware of this.
Thanks Kumar
In 2006, an e-mail chain letter hoax circulated that claimed a reverse PIN duress code system is in place universally.[11] American Banker reported on January 2, 2007 that no PIN-reversal duress code is used on any ATM as of that date. In July 2008 the hoax was still circulating in Australia with the text:
If you should ever be forced by a robber to withdraw money from an ATM, you can notify the police by entering your PIN in reverse. For example if your PIN is 1234 then you would put in 4321. The ATM recognizes that your PIN is backwards from the ATM card you placed in the machine. The machine will still give you the money you requested, but unknown to the robber, the police will be immediately dispatched to help you. This information was recently broadcasted [sic] on TV and it states that it is seldom used because people don’t know it exists. Please pass this along to everyone possible. Australian Federal Police. AFP Web site:
http://www.afp.gov.au
The same kind of e-mail chain letter hoax is still circulated in India and other parts of the world.
Were the system implemented, PINs that are reversible such as 5555 or 2112 then would be unavailable so that false alarms would not occur. Moreover, PINs that are semi-reversible such as 5255 or 1241, where the first and last numbers are the same, would be something to avoid as well so that accidental alarms would not be triggered by mistakenly switching the middle numbers.
Diebold, a manufacturer of ATMs, states on their website that no such emergency alerting system is currently in use. They cite an article in the St. Louis Post-Dispatch which claims bankers oppose the reverse-PIN system out of concerns that “ATM users might hesitate or fumble while trying to enter their PINs backwards under duress, possibly increasing the chances of violence.” Diebold further states that they would be willing to support such technology if their customers (presumably banks) request it.
http://en.wikipedia.org/wiki/ATM_SafetyPIN_software
The long lag time between the shock of the initial assault and the point when the PIN is demanded gives the victim a chance to gather his or her wits. The names of the SafetyPIN © work as a memory aid. “ReversePIN”© “Inside-OutPIN”© or “Plus-1PIN” © remind the cardholder how to use the system when needed. (Think back to grade school and the name “Roy G Biv” should be familiar. It’s an acronym for red orange yellow green blue indigo and violet, the seven colors of the rainbow, or “HOMES” Huron, Ontario Michigan, Erie and Superior, the Great Lakes) The average national response time to an emergency 911 call is 2.5 minutes. (As opposed to a service 911 call which is 20 minutes or more.) The average transaction time for an ATM withdrawal is 1.5 minutes. That leaves the criminal one minute to get as far from the victim as possible, maybe a little less, maybe a little more. He’s in danger if he takes the victim with him. As things stand now, he knows he’s safe.
When you start spending actual cash you become aware of the spending and you tighten your belt,but not when you pay through a card.( it becomes just a number in your mind).
I have seen people divulging the PIN number to the shop assistants to effect payment.
And the Bank charges you for spending your money.
Best is to spend cash, no cards,though this may seem antediluvian.
“Most people think using your PIN number is the safest way to pay,” says Gerri Detweiler, a personal finance expert at Credit.com. “No one would think inside a reputable store someone could tamper with a debit card.”
“If they can do it there, where can’t they do it?” she asks….
Five years ago, TJ Maxx had a massive security breach: data for 45 million credit card and debit card accounts were stolen. Late last year, thieves targeted ALDI supermarkets in 11 states from Connecticut to Virginia, stealing names, card numbers and PIN codes. Debit card loss has risen from $662 million in 2005 to $788 million in 2008, according to the American Association of Bankers.
“The safest form of payment that truly exists on the planet is the credit card,” says Abagnale. “I removed 99 percent of the risk because I spend the credit card company’s money. If someone looks over my shoulder and gets my number, I have zero liability.”…
Why Debit Cards are not Safe.
No Account Access: Consumers may be unable to access bank accounts if a debit card or banking information has been compromised. Consumers may be required to wait 7 to 10 business days for a new card to arrive to begin making charges using their personal funds.
Delays: ”The bank may eventually give you your money back if you lose money with a debit card but until then you’re out of your own money,” says Ed Mierzwinski, director of Consumer Program at U.S. PIRG, a consumer advocacy group.
Hotels and Gas Stations Can Hold Your Money: ”Some gas stations continue to impose debit card blocks,” says Mierzwinski. “A few stations may charge $1 to see if your card works, but there are still some that impose blocks of up to $100 that are not removed for one to two days. This can hurt people.”
Mary Alice Belov, a small business owner, told Consumer Reports, she had to return items in her shopping cart after a $10 gas charge resulted in a $50 hold on her account.
Increasing Levels of Fraud: ”Fraud on debit cards is a big issue. It’s increasing at the ATM with the cloning of the cards using skimmers,” says Mierzwinski.
Skimmers, devices attached to the card reader that supply a criminal with debit card information, have been discovered at three banks in Savannah, Georgia, this year, according to the Savannah Morning News. Police found a skimmer at a SunTrust ATM and may have stopped the thief in his track. But they weren’t as lucky at the Georgia’s Own Credit Union, where 276 customers’ information was compromised, according to a police report filed Thursday.
Unlimited Liabilities: The electronic banking act leaves debit card holders legally responsible for anywhere from $0 to the balance of an account. The amount of consumer liability is based on when a missing debit card account is reported missing. “If you fail to report an unauthorized transfer within 60 days after your statement is mailed to you, you risk unlimited loss,” warns the FTC. “That means you could lose all the money in your account and the unused portion of your maximum line of credit established for overdrafts.”
A Lot of Hassle: ”Even if you get your money back, there’s still a real hassle factor,” says Detweiler. “The money is still out of your account and you still have bills to pay.” Consumers could wait 2 to 3 months for a credit for an unauthorized purchase.
Lack of Credit Building: ” You do nothing for your credit score by using a debit card,” says Abagnale. “You’ve been using this debit card and haven’t done a thing to establish your credit.”
You Pay Your Bank To Use Your Money: The $5 ATM fees and $9 monthly fees to maintain an account add up. “You’re spending your own money and the bank is still charging you a fee,” says Abagnale.
Related:
Thieves tampered with the retailer’s debit-card processing equipment at about 80 stores from Massachusetts to Washington, according to the chain’s corporate parent, Michaels Stores Inc.
The thefts apparently involved the use of electronic devices called skimmers that allowed crooks to record information from shoppers’ debit cards and steal their personal identification numbers, or PINs.
Read more:
http://online.wsj.com/article/SB10001424052748703730804576319033369439712.html#ixzz1MHyiVkWy
