Lose Money Fast
February 1, 2016
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It’s been a long week and a half; mostly work related. This weekend was the one and only time I ever had for myself to relax and do a few things. My pants are getting a bit baggy so I went and grabbed a belt. At the same time, I went out and ordered a few things. To end off a productive day, I thought I would go see a movie. Sometime between buying the belt purchase and the movie theatre, I managed to lose my debit card. By the time I whipped my wallet out to buy a ticket, I realized my situation.
My reaction was beyond disappointment, beyond fear. I depend on my bank account for so much and losing this little secure plastic card would expose my card’s RFID to anyone who finds it. Then it hit me how fragile that RFID tag inside the card can be.
As it stand with my bank, the radio tag inside my card doesn’t require any for of verification. A simple tap on the receiving device can make small purchases. It can be a lot if a lost card was tapped repeatedly everyday. Actually the first time I used the tap method once because the merchant wanted me to tap. He insisted.
From my teens right up to now, I’m a safety and security conscious person. There are risks involved with everything we do, online and offline. When it comes to taking a risk with a lifeline for many including myself, I’m starting to realize the vulnerability of the radio tag and electronic banking. It’s been awhile since I used any form of e-banking nor do I ever want to trust my data electronically. Many of you may be less concerned, I tip my hat off to you. Online banking opens a world of consumer freedom and the opportunity to buy and sell products online.
As for me, I’ll keep my old ways and stick with my physical banks.