According to identitytheft.info, about 15 million Americans have their identities used fraudulently each year, resulting in financial losses upwards of $50 Billion. This means that approximately 7% of all adults have their identities misused resulting in $3,500 in losses, each year. Taken one step further, this will cost the average American $250 a year, and once every 14 years (on average) each person will have to deal with resulting fallout. This surge of knowledge and awareness was brought about recently when I was alerted by my bank that my checking card had suspicious activity on the account. The credit card in question is one reserved for emergencies while traveling and is never used. My question was, "how was the card compromised when it had not been used and has not left its sleeve in my briefcase?"
Simple answer, microchips found in new credit cards (as well as ID badges/tags, company ID's, military dog tags, and scariest of all new passports) can transmit critical information. This information transmission is designed to make users' lives easier, but in fact is a double edged sword because the same information can be intercepted and used to create a duplicate. So how can you protect yourself when someone does not even need physical contact to steal your wallet?
Purestat Engineered Technologies has developed a technology which can provide protection from this stealth theft. This innovation shields the card, ID tag or passport from the prying eyes of scanners. Unfortunately standard shielding or barrier bags can have their shielding properties damaged or destroyed with time, wear, or even during manufacturing, leaving the customer with no way to know if their data is actually secure. In order to overcome these limitations Purestat developed the permanent ESD and RFID shielding technology called RIBS MVTR Barrier Bags. By placing your credit cards, ID's or passport inside one of our permanent shielding RIBS MVTR bags, pouches, or sleeves your personal data on the micro-chips can be safely, securely, and permanently protected from electronic prying eyes. The personal security bags and pouches come in a variety of convenient sizes to fit wallets, purses and briefcases.