I remember it was about a year ago when my bank (local Kenyan bank) sent out alarming emails and run ads telling customers to go for a new Chip & Pin debit or credit cards. The reason given was that the old credit/debit cards were less secure, and banks are adopting the latest generation of cards equipped with Chip & Pin safeguards to better protect us from hackers and identity thieves.
Barely a year from then, it seems hackers might have a workaround over the so-called Chip & Pin safeguards and can now continue having their field day if you happen to leave or use your card in an insecure manner. Before you start getting worried, this achievement was done in the form of white hat hacking; whereby a security expert looks for security exploits in a security system.
Samy Kamkar is one such white hat hacker and according to Softpedia, he is a well-renowned inventor of numerous hacking tools. His latest invention, the MagSpoof is a very lethal device should it ever fall into the wrong hands. This device is said to …read more