A contactless smart card includes an embedded smart card secure microcontroller or equivalent intelligence, internal memory, and an antenna which communicates with a reader through a contactless radio frequency interface. Contactless smart cards have the ability to securely manage, store, and provide access to data on the card and interact intelligently with a contactless smart card reader. The contactless interface provides users with the convenience of allowing the contactless card to be read at short distances with the fast transfer of data.
The card reader instantly scans the code and sends it to the system to provide information about the end-user. This enables the ease of the payment process by providing a user-friendly environment for end-users. An electronic purse is a smart card that allows monetary transactions similar to credit or debit cards that helps consumers make digital payments and avoid carrying cash. With the increasing adoption of e-purses, the smart cards market will witness considerable growth during the forecast period.
Smart cards are pocket-sized cards made of plastic, which can be embedded with microchip or integrated circuits and then process and store data. Smart cards are used for individual authentication and identification, payments, as a transit ticket, and for authorized access within secured premises. Types of smart cards are contact-based smart cards and contactless smart cards.
Contactless smart-card technology is optimized to provide highly secure devices by using cryptography, encryption, and the internal computing power of the smart chip. By using diversified unique keys and industry-standard encryption techniques such as secure algorithm between cards and readers for RF data transmission, the risk of compromised data or duplicated cards is reduced.
Email fraud is nothing new, but online criminals have become ever more-effective at spoofing their identities to trick employees into sending them money. The Australian Centre for Cyber Security (ACSC) recorded losses of over $20M to business email compromise (BEC) attacks last year alone, up 230 percent over the previous year – and the full amount is certain to be much larger.
Cybersecurity Insights - Attack
No matter how robust your security, or how diligent your employees, network credentials are a free pass for cybercriminals. This is mostly because employees are relied upon for their own password management. And with more than 4.8 billion sets of stolen credentials said to be available online, odds are that at least a few of your employees’ user IDs and passwords are just waiting to be used by unscrupulous outsiders. Are you ready to stop them?
Cybersecurity Insights - People
Cyber resilience will be particularly important as Australian organisations face increased pressure to quickly detect, respond to, and manage the repercussions of breaches in the wake of 2018’s Notifiable Data Breaches (NDB) scheme.