Anyone who read The Wireless' coverage of hackers conference Kiwicon knows we've come to be pretty paranoid about our security. Before the conference, we were repeatedly warned to leave any cards with an RFID chip at home.
Now, the security of the new cash cards (that do not need a pin number or a signature for purchases of less than $80) has been criticised by a security specialist.
A Taranaki Savings Bank customer says almost $800 was taken from his account after a new – pre-activated – card was stolen from his letterbox.
Special Tactics managing director Daniel Ayers said it's silly that some banks, including TSB, send cards in the mail that are ready to be used.
TSB says the fraudster was caught after illegitimate purchases were detected by its anti-fraud software and the customer's money has been refunded.
The head of Visa in New Zealand, Caroline Ada said Visa is not aware of an increase in fraud since introducing the new cards in 2011.
