Change the number every hour - from The Memo:
This high-tech card is being rolled out by French banks to eliminate fraud
Your bank security is pretty broken. It’s not your fault, it’s just really hard to keep people’s money safe, especially online.
Part of the problem is that once your card details are stolen – whether through a phishing attack or by someone copying the digits on the back – fraudsters are free to go on a spending spree until you notice something’s up.
And their solution? The CCV code changes every hour
At first glance these cards don’t look any different from the ones you carry around today, but they’re hiding some technological wizardry.
The three digits on the back of this card will change, every hour, for three years.
And after they change, the previous three digits are essentially worthless, and that’s a huge blow for criminals.
Only issue is that it will not be long before someone hacks this - all they are doing is running a random number algorithm and each card is "seeded" with a different number linked to the customer's account. They have the same algorithm running at the bank with the same seed and when the two numbers match, it is a valid customer. All they need to do is find the algorithm and the seed number and that account is as hacked as before.
More complex versions of this have been around for high-security network logins for the last fifteen years.
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