Nanotechnology to cut out debit card fraud
Monday 15 June 2009Scientists in Germany have unveiled a new technology that has been designed to stamp out credit card and debit card fraud for good.
Bayer MaterialScience has developed a new polycarbonate film which can be laid over the surface of debit cards and credit cards, with a randomly spaced collection of metals contained within the film creating a completely unique sequence that can be read by a card terminal.
This unique arrangement of the metals – which can also be coded with numeric data – could help to create a card that is virtually impossible to clone, the scientists say.
"Thanks to the random distribution of the metal particles, every ID made of our new film is unique and, therefore, virtually counterfeit-proof," explains Cengiz Yesildag, head of sales in the films unit at Bayer MaterialScience.
Last year, debit card fraud caused losses of around €40 million (£69.3 million) in Germany alone, Bayer claims.
Here in Australia, NAB has this month announced that it will be introducing biometric security to its telephone banking service with the launch of a new voice verification system.
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