Fraudsters are exploiting social engineering tactics and malware to clone contactless payment cards and authorize fraudulent transactions within a mere 13 minutes. This rapid exploitation of payment systems occurs before financial institutions can intervene, highlighting a significant vulnerability. AI
IMPACT This method highlights vulnerabilities in current payment systems, potentially impacting security protocols and fraud detection measures.
RANK_REASON Article describes a new method for committing financial fraud using existing technology, not a core AI development.
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