With increasing financial security concerns, card fraud and identity theft forming a major threat to modern living, Denmark-based card security technology firm CardLab Innovation develops the necessary technology to protect users.
Threats such as ‘jackpotting’ and ‘skimming’ – two of the biggest card and identity hacking techniques – present concerns over the validity of ATM machine security. In a time when data hacking is becoming more and more prevalent, CardLab solutions allow citizens to take their personal security into their own hands.
What is jackpotting?
Jackpotting involves cybercriminals accessing a bank or payment card processor to harvest customer card data. This can then be installed onto blank cards to create clones, which allow criminals to withdraw funds from cash machines. In many cases, such data breaches among card issuers, financial institutions and other companies which store large amounts of customer data can often go undetected for months, meaning that these attacks can be hard to predict or prevent.
What is skimming?
Card Skimming is a technique used by thieves to steal card data and PIN numbers when an ATM machine is used. Card skimming and data theft can also occur when using card readers and can happen at petrol stations, via contactless payment through your wallet and at the point of purchase in store.
Similarly, electronic pickpocketing is becoming one of the real big threats as contactless payment becomes more and more popular.
CardLab smart card technology
In this eBook Frank Sandeløv, CEO of CardLab, outlines how smart card technology protects you and/or your business from jackpotting and skimming attacks, amongst other threats. The eBook also sheds a light on current trends in the financial world, as well as in cyber space, providing an insight into preventing hackers from stealing your information.
Other features of this eBook include:
- CardLab smart card solutions;
- The threat of hacking;
- How crypto currencies are at risk;
- Biometric verification solutions;
- The importance of continued technology development;
- The increasing risk of electronic pickpocketing; and
- The ongoing fight against cybercrime.