May 21, 2007
Crave: The way the particles land on a given credit card magnetic stripe are as unique as individual snow flakes or human fingerprints. So says a Magtek, a company that has developed a product, MagnePrint, for recording the unique magnetic media signature for all credit and debit cards scanned through its readers. The first scan by a MagnePrint reader creates a template against which all subsequent scans are compared.
MagnePrint is designed to prevent "skimming." Online carders buy credit card information from a black market database then copy that information onto a blank physical card using a machine that costs around $250. The skimmed card is then used in an ATM or a retail environment as though it were the original card until the credit or debit limits are maxed.
Technology 'fingerprints' valid credit cards, flags bogus ones [Crave]
By Marcel Sim @ 6:20 AM | Technology | Comments (0) | Article Link
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