This process does not require the three or four-digit CVV numbers that are printed on the back side of the credit cards.
Also Read: How Hackers Can Hack Your Chip-and-PIN Credit Cards
- Spoof any magnetic stripe or credit card entirely wirelessly, even on standard magstripe/credit card readers
- Disable chip and PIN (EMV) protection
- Switch between different credit cards
- Accurately predict the card number and expiration date
…on American Express credit cards.
Also Read: Smart ATM offers Cardless Cash Withdrawal to Avoid Card Skimmers
Here’s How MagSpoof Works
The wireless function of MagSpoof works by emitting a strong “electromagnetic field” that emulates a traditional magnetic stripe card as if it is physically being swiped.
“What is incredible is that the magstripe reader requires no form of wireless receiver, RFID, or NFC – MagSpoof works wirelessly, even with standard magstripe readers,” Kamkar says in his blog. “You can put it up to any traditional point of sales system, and it will believe that a card is being swiped.”
…the code will be somewhat altered because Kamkar has removed the code’s ability to deactivate EMV and hasn’t released the AMEX prediction algorithm.
Also Read: Let’s Take a Selfie to Shop Online With MasterCard