Cybercriminals are finding new ways to steal money through NFC carding theft despite payment card security improvements.
Attackers create networks of fake websites to phish for payment data and link stolen card details to their own mobile payment accounts.
Victims unknowingly provide their card details and OTP, enabling cybercriminals to replicate their card for unauthorized transactions.
Cybercriminals may link multiple stolen cards to one smartphone and resell it on the dark web for future use.
A technique called Ghost Tap, using NFC relay, allows scammers to make contactless payments without the need for PIN or OTP confirmation.
In a recent NFC relay scheme, victims are tricked into installing an app that reads their card data when held to a smartphone, leading to fraudulent transactions.
Users can protect themselves by using virtual cards for online payments, being cautious of apps requesting card details, and using security solutions on devices.
Additional protective measures should be implemented by Google, Apple, and payment systems in the payment infrastructure to combat such scams.
Regularly replacing virtual cards, disabling offline payments, and setting up transaction notifications are recommended steps to prevent card theft.
By educating users on safe practices and implementing security measures, the risk of falling victim to NFC carding theft can be minimized.