HuMn Wallet CEO Speaks Out On Credit Card Cloning Apps To Help Keep Consumers Safe
HuMn Wallet’s Ken Minn has voiced fresh concerns with RFID protection, highlighting new apps that can clone credit card details in just 15 seconds. Minn has explained how consumers can protect themselves.
Portland, OR, United States – September 6, 2017 /MarketersMedia/ —
The HuMn Wallet range offers RFID and NFC protection for cards, and this protection is now more necessary than ever. New smartphone apps can steal credit card data in under fifteen seconds, without any contact with the card itself, according to leading security researcher Peter Fillmore. Ken Minn, CEO and co-founder of HuMn Wallet, has spoken out with practical advice and guidance to help people keep their credit card and identity details protected.
Minn explains that Fillmore successfully cloned a credit card in 15 seconds, using a custom-made app employing a smartphone RFID scanner. While Fillmore’s app was created to highlight this vulnerability, homemade apps are being developed and traded throughout the world.
Minn has created new resources to promote awareness of this problem, and the impact of the vulnerability is huge. 95% of in-person transactions in Canada are contactless, and 75% in Australia The US has begun to embrace this technology, but its rapid distribution has left millions exposed. In these resources, Minn recommends setting up smartphone alerts for every transaction, to ensure cardholders are made aware as soon as their data is stolen, enabling them to better mitigate the loss.
Ken Minn is a co-founder and CEO of HuMn Wallet, which produces RFID blocking wallets. With a slick, minimalist design, these wallets are created using protective aluminum layers embedded into carbon fiber. This protects contactless card data from scanners, smartphone apps, or other invasive devices.
“With our R&D what we found was aluminum does a superb job in blocking RFID signals,” says Minn. “But a lot of aluminum is heavy and bulky, meaning it’s not ideal for a wallet. With HuMn, we went with something strong but very light weight — 6061 aircraft grade aluminum. No one else does that.”
According to Forbes, U.S. credit card losses could exceed $12B by 2020. While right now skimming contactless cards accounts for only a fraction of that, the growth in the use of such cards, coupled with the development of these apps, is alarming. Minn says that RFID blocking wallets are a crucial tool to protect consumers from credit card fraud and identity theft.
“A lot of customers are buying an RFID blocking wallet after being skimmed. Unfortunately, at that point, they’ve already been robbed. What we hope to do is reach people — especially people using new RFID enabled credit cards — to prevent crime before it happens. That means raising awareness with young people, travelers and those whose cards are linked to other personal data.”
About HuMn Wallet: Ken Minn co-founded HuMn Wallet in 2012. After a colleague noticed that Minn had resorted to strapping his cards and cash together with a rubber band, both decided to embark upon creating a sleeker, minimalist traveling wallet. While researching technology that would allow consumers like Minn to avoid physical cards all together, they discovered the growing need for RFID protection. With the dual purpose of payment card protection and minimalism, HuMn Wallet was born.
Contact Info:
Name: Ken Minn
Email: kminn@humnwallet.com
Organization: HuMn Wallet
Address: 1400 NW Irving St #409, Portland, OR 97209, USA
Phone: 503.319.5682
For more information, please visit https://humnwallet.com/
Source: MarketersMedia
Release ID: 236868
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