Encryption code as a TOP-security level? Forget it!

Most of the credit card, wide variety of smartcards used the integrated  encryption technology as the most secure feature that would allow their clients to protect themselves from the fraudulent actions. It seems it will not be safe anymore. As it was declared Nohl, 26 year-old student of University of Virginia in "the partnership" with two German folks have succeeded in cracking the encryption algorithm that opens the doors to the new generation of fraud related to the smartcards and, as a result, will increase the potential losses of the banks. Three buddies have dismantled the chips integrated into the smartcard that are using technology of radio-frequency identification and cracked the algorithm. Despite the denial of the issuer of such chips about the claimed success in cracking the algorithm, however, it still acknowledged that the part of the algorithm was revealed, therefore, the gap in the fortress was finally made. It won't take a lot of time to find the "comrades" in the threatened society to intense the efforts and to reveal what has left. The results of the "fruitful" work will be millions of our cloned cards.

Natalia, reporter of Ecommerce Journal