Developer creates tool to stop card skimming

A new system has been designed by a Sydney-based web developer that will help credit and ATM card holders from being defrauded by enabling the PIN to change with each individual use.

Gabby Molnar has developed FlexiPin, a system designed to protect users from skimmers. Recently gangs of criminals using credit card skimming equipment have managed to steal the details of hundreds of customers, enabling them to steal millions.

The system works by having users memorise only two numbers from a standard four-digit PIN, with FlexiPin giving the user a formula in order to decipher the remaining numbers. Additionally, Molnar said banks won’t need to change their technology to keep up with the new system.

He recently demonstrated the technology to a Commonwealth Bank executive, and told The Age that “He was very pleased… It’s now a waiting game. I’m pretty sure he would tell his colleagues about it.”

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Close
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Show
Forgot your password?

Want some assistance?

Contact us on: support@smartcompany.com.au or call the hotline: +61 (03) 8623 9900.