Your Expired Visa Card Could Be ‘Zombified’ to Make Contactless Payments
Fraudsters can use expired Visa cards to make contactless payments through a man-in-the-middle app.
Intelligence analysis by Qwen 2.5 (3B)
Researchers warn of a new technique where fraudsters can use expired credit cards to make contactless payments, highlighting the need for better security measures.
When a Visa card expires, fraudsters can use it to make payments without anyone noticing. They do this by using a special app to pretend the card is still good. This is dangerous because it can let them take money from someone else's account without them knowing. To fix this, card issuers need to make their systems stronger and banks need to be more careful about which cards they let people use.
Analysis
The Vulnerability
At the Usenix Cybersecurity Conference, researchers from the University of Massachusetts Amherst revealed a new technique where fraudsters can use expired credit cards to make contactless payments. The researchers found that Visa’s authentication chain for contactless payments is flawed, allowing out-of-date cards to pass its check. As a result, fraudsters could use expired cards to make payments from the unwitting owner’s account, particularly at point-of-sale terminals where no human is present to look askance at their phone-based proxy setup. The lesson is clear: when a Visa card expires, a pair of scissors can ensure it doesn’t reanimate in someone else’s hands.
The Solution
To address this vulnerability, Visa and other card issuers need to improve their authentication protocols. This includes implementing stronger encryption and more robust fraud detection systems. Banks also need to take responsibility for preventing the use of expired cards, as some banks have already done. By working together, the industry can create a safer environment for consumers and merchants alike.
The Broader Implications
This vulnerability underscores the importance of secure payment systems and the need for better fraud detection mechanisms. As technology continues to evolve, so too must our security measures. The industry must stay vigilant and proactive in addressing emerging threats to ensure that consumers remain protected.
Key points
- Fraudsters can use expired Visa cards to make contactless payments through a man-in-the-middle app.
- Visa’s authentication chain for contactless payments is flawed, allowing out-of-date cards to pass its check.
- Banks need to take responsibility for preventing the use of expired cards.
By improving their security protocols, card issuers and banks can prevent fraudsters from using expired cards to make unauthorized payments. This will help protect consumers and ensure that their money is safe.
If card issuers and banks do not take the necessary steps to improve their security, fraudsters will continue to exploit this vulnerability. This could lead to significant financial losses for consumers and damage the reputation of the payment industry.
