SignalVault: Is It The Right Solution For You?
Who is SignalVault and what do they have to do with credit card protection? SignalVault, as featured on TV show sensation Shark Tank, is one step ahead of cyber-criminals who use technology to steal your credit/debit card information by developing RFID blocking technology that effectively shields its customers from theft – or does it?
Stealing credit card information goes hand in hand with identity theft. Identity theft happens when someone uses your personal information to commit crime. Thieves can steal your name, address, phone number, social security number, photos, online shopping carts and of course, credit or debit card numbers. Criminals can use this data to purchase big ticket items or obtain credit.
It seems that with the big data breaches at stores numerous national chains, that your data is not safe anywhere. However, there is much you can do, including working with companies like Signal Vault to deflect theft.
How Your Financial Information Is Stolen
When people think about stealing credit cards, they think of the shadowy criminal, breaking into homes, hotel rooms or holding up innocent people at gunpoint. While that still applies, criminals have evolved more sophisticated scams using technology.
- Snatch and grab. Stealing items left out or unlocked is still the preferred method of many criminals. Desperate criminals will use weapons.
- Service workers. Recently, the video of a young Starbucks employee went viral. The employee stole a credit card number and was confronted by the angry victim, who also video-taped the entire interaction. Many service workers work incredibly hard and make an honest living. However, some sneak into retail or the food industry just to steal people’s credit cards.
- Point of sale scanners. Local news stations show the latest electronic rip-off: scanners. Crooks fit card readers over the credit card scanners at gas pumps, ATMs, restaurants, malls, retailers, and anywhere else they can get away with it. It looks like nothing is wrong with the machine. As you use it, the scanner silently gathers your financial details for later use.
- Online. Get an email from the bank that says your account is a -$300 balance? Before you reply, make sure you are talking to the bank. Criminals will send links to websites through your email that can collect banking records, passwords and other sensitive data. Viruses can also be downloaded from websites.
Cybercrime Crowd Hacking In The 21st Century
We’ve already covered the technology that criminals steal: scanners, skimmers, viruses and hacking. There is a new way that criminals are stealing: electronic pickpocketing.
Go into a crowd and you will see people carefully guarding their wallets and purses from thieves. Yet now thieves don’t even have to reach into your purse or wallet. They don’t even have to touch you. They plop a device into their bag, stand up to 25 feet away, and can steal credit card numbers all day long, as much as the device will hold.
That makes stealing easier. It also makes protecting yourself much harder. The website InfinitePowerSolutions.com makes a very interesting point in that SignalVault’s RFID blocking technology is still in its infancy stages, but that too also means that crowd hacking and stealing sensitive financial information and personal data is as well.
Protecting Yourself From ‘Electronic Pick Pocketing’
How do you protect your bank card from people who can scan it without your knowledge? This is where Signal Vault comes in.
SignalVault is a device that you place next to your credit cards in your wallet or purse. It blocks the electronic readers from penetrating your wallet and collecting data from your bank card.
The device is flat, like a credit card, and fits right in your wallet. It comes in a little plastic covering that protects it in shipping. The plastic cover should be removed. Once removed, it should be placed in your wallet where your cards are.
Chris Gilpin, inventor of SignalVault, created his anti-theft device that jams the signal from incoming RFIDs. Requiring no external or extra power, Signal Vault sends out a radio frequency that is higher than the average bank card. It creates a digital barrier to keep out RFIDs.
What is an RFID?
The devices thieves use to swipe data are called RFID (Radio Frequency Identification Tag). They are used in pretty much everything that sends a signal, from bar code scanners to access cards for company employees. The RFID can be as small as a grain of coffee.
The RFID sends out a signal, which activates the magnetic strip in your credit card. Your banking card then spews out all of its secrets which allows the RFID to read it, collect it and store it. The range of RFIDs vary, but they can be as far away as 25 feet.
Think of all the places you go with a bank card. Malls, restaurants, even your kid’s baseball game can be places where you are unknowingly robbed.
Other ways to protect yourself from stolen credit card information.
- Don’t give it out. People call and ask for information all the time. If you don’t know the company or are confused about the service, don’t give them that information. Hang up if they get too pushy.
- Shield. Cover your card whenever you punch in your PIN.
- Lock up your mail. People steal from mailboxes all the time. Keep them out with a lock and key.
- Shred. Anything with banking information, statements, offers, old cards, expired cards, etc., shred. Some office supply stores have shredding services and some cities offer a free shredding day.
- Lock up your belongings. In cars, at the gym, in the library, at school or at work, lock up your stuff.
- Update your passwords. It is very easy for people to hack into accounts because people use 1234 or their date of birth as a password. Come up with something better than you can easily remember. For example, if you traveled to Las Vegas in 2010, your password could be L@$Veg@$10.
- Update cyber security. Keep firewalls up-to-date on your computer. Install virus scanners.
Protecting your personal information is critical, as many still use plastic instead of paper to pay for items. As criminals develop more sophisticated methods of stealing, it is up to us to do our part to keep up with the technology. Using companies like SignalVault can leverage our efforts against new technology used for illicit purposes. What is your peace of mind worth?
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