Unusual Card Tricks E-Book by James N. Rodgers

$2.95

Warning! Weaknesses in the Federal Reserve System could be exploited by foreign terrorists to bring down the US economy!

Find out what happens when Smart Card technology gets into the hands of international crime syndicates.

Read James N. Rodgersí exciting novel, Unusual Card Tricks, which you can buy exclusively from this website and Quintessential Publications.

Discover the shadowy underworld of spies, mobsters, and white collar criminals on Wall Street.

Based on true stories from a master storyteller with inside knowledge of how the criminal underground works in tandem with corporate America and the intelligence community.

Follow this fast-paced adventure in money laundering, stock fraud, offshore banking, economic terrorism and international intrigue from Moscow to Johannesburg to New York to London to Riga to Munich to the Bahamas and beyond.

Can Smart Cards really save us from credit card fraud and identity theft? Or do the dangers far outweigh the benefits?

Donít you want to know what the HAM IN THE SANDWICH is?

From the desk of James N. Rodgers:

A smart card is the same as a credit card, except that the smart card has a computer chip embedded into it, while a credit card has a magnetic stripe on the back of it. While the credit card and smart card look similar on their faces, appearances in this case are extremely deceiving.

The magnetic stripe on the back of the credit card contains enough space for about 300 characters. These characters are usually used to keep track of the full name, social insurance number and credit-worthiness of the cardholder. There is a quantum leap between the information available on 300 characters and the amount of information that can be placed on a computer chip. The embedded chip in the plastic smart card is exactly that: a computer chip inside of a piece of plastic which looks identical to a credit card, yet it carries no magnetic stripe on the back.

As smart cards are introduced into everyday North American society, we will see hybrid cards. These are smart cards with a stripe on the back. The reason for the stripe is that most merchants will not have a smart card reader. As businesses transition to only smart card of transactions, the need for the magnetic stripe will dissipate, and the stripes will disappear.

The magnetic stripe is forty-year-old technology. The problem the major credit card companies have is that it is relatively easy to decrypt the 300 characters on the stripe. In fact, it only takes a hot iron to retrieve the information from the back of any credit card. When a counterfeiter has the information from the back of the credit card it, takes only fifteen to twenty minutes to counterfeit another card with the same name and identity particulars on the forged credit card.

In the Far East this problem is systemic. For example, if you travel from the West Coast of the US to just about any major destination in Southeast Asia, your magnetic stripe could be automatically decrypted as your credit card is swiped when checking into your hotel. The information would then be passed to a counterfeiter, who would then produce an identical card to yours. This card would then be given to someone else, who could the card to its limit before you have checked out of the hotel.

This type of fraud will cost the credit card companies over one billion dollars in 2004. Actually, it will cost you and I one billion dollars, because we pay for this fraud through exorbitant interest rates paid on balances due on our credit cards. The fact is that the credit card companies are owned by the major banks and are zero sum corporations. This means they donít make a profit or accept a loss. Fraud is accounted for as a cost of doing business, and we are the ones who pay for it.

However, as consumers get more agitated about the almost usurious interest rates charged by credit card companies, they will be forced to come up with a solution for this magnetic stripe fraud. The answer promulgated by the credit card companies is smart cards. Is the answer worth it? You decide after buying and reading this book.


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This product was added to our catalog on Wednesday 11 February, 2009.

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