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Credit Card Reader

How the scam works:

(with video) Technology can be a wonderful thing until it's used against us. Let's say you get a state-of-the-art credit card with RFID (Radio Frequency Identification) technology. It's brand new, and you're thrilled at the chance to charge purchases with only a quick scan.

The problem is, scammers near you are interested in the same technology. It is now called electronic pickpocketing.

As they walk by you in crowded places (markets, elevators, mall, escalators), they are carrying a gadget that can read the same frequency. They may have it in a satchel, or nice looking binder--but either way, the second they touch you the banking information is now public information.

Watch the video below to see in action how the electronic pickpocketing happens.

How to avoid:

Not all of these cards can be read -- only the ones with a little logo of an antenna signal. You could either return the card to the bank and get a new one without that feature, or purchase a special wallet to stop the transmission (see below). Avoid having your credit ruined by taking all the right steps towards preventing the fraud.

Probably the best way to avoid this is to get a wallet that offers RFID protection. If it's time for you to change your wallet anyway, here are a few trustworthy and powerful products - it's worth the investment: Men RFID 11 Card Bifold Flip Style Leather Wallet, Baggallini RFID Wallet Ocean Women, Bi-Fold Leather Wallet Black, RFID Blocking Pebble Grain Leather Urban Commuter Wallet, and Columbia RFID Security Shield Theft Protection Leather Trifold Wallet.

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