Chinks In The Chip

How crucial data -- for banking, e-commerce etc -- can be tapped and misused

Chinks In The Chip
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Computers

Wi-fi networks

  • Most Wi-fi links -- transmitting e-commerce, banking, crucial data -- are unsecured, can be easily hacked. 
  • Have been misused by terrorists to send emails

Banks/companies

  • Banks use secure authentication process to ensure security of customer data. 
  • Companies/shops depend on secure payment gateways of banks to protect customers

Mobile phones

  • M-banking, commerce and Internet putting user data in one device. 
  • In case of handset loss, crucial data can be available to anyone

Hackers

  • Can identify users through IP address, they can access personal data and bank accounts. 
  • Unsecured Wi-fi links easiest to misuse

ATM 

  • Credit/debit card data on magnetic strip can be copied from ATMs and misused
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