Users must always maintain a high level of vigilance and take precautionary measures to protect financial information.
The convenience of being able to leave home without a wallet, relying solely on your mobile device for every transaction, has been one of the most appreciated revolutions of the new digital era. This change is driven largely by Near Field Communication (NFC) technologywhich allows devices to exchange data over a very short distancemaking payments quick and easy by simply holding your smartphone close to a payment terminal.
NFC technology is not just about convenience, but about digital transformation in the way we consume and manage money. Every day, millions of transactions are carried out securely and quickly thanks to this technology. However, despite its undeniable benefits, the growing use of NFC payments brings with it new challenges and risksparticularly regarding the security of personal financial information.
NFC technology is considered among the most secure in the world, but it is not totally free of problems
While NFC payments are generally secure, there are vulnerabilities that can put your financial information at risk. Recently, it was discovered a bug in Google Wallet which highlighted the potential risks associated with the use of this technology. This bug allowed hackers to clone a credit card saved on the app in seconds by exploiting specific security gaps in the device’s operating system.
The cloning procedure required that the victim’s phone had NFC activated and that, at the same time, there was a locked app on the screen. These conditions allowed the attacker to use an external device, such as the Flipper Zero (an easily available NFC reader) to intercept card data, including number, network and expiration date. Fortunately, the CVV security code was not transferred, limiting the potential fraudulent use of the cloned card.
To minimize the risk of card data theft, it is essential to take certain precautions. First of all, make sure your smartphone is always updated with the latest version of security software. Security patches, such as those released by Google following the discovery of the bug, are essential to closing any flaws that could be exploited by attackers.
Additionally, it is crucial to be aware of your surroundings when making NFC payments. Avoid leaving your phone unattended, especially in public places, e.g pay attention to who is in your immediate vicinity during transactions. If possible, disable the NFC feature when not in use to further reduce the chances of unauthorized access to your financial data.
