Why the Heyday of Credit Card Fraud Is Almost Over

In 1960, an IBM engineer named Forrest Parry was developing a new type of ID card for the CIA when he had an epiphany: Why not make each card a tiny data storage device in and of itself? He cut a short length of half-inch wide magnetic tape from a reel and wrapped it around […]

The post Why the Heyday of Credit Card Fraud Is Almost Over appeared first on WIRED.

from WIRED » Threat Level http://wrd.cm/1v2TU1F