{"id":7402,"date":"2023-07-03T16:42:28","date_gmt":"2023-07-03T16:42:28","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=7402"},"modified":"2023-10-16T16:42:58","modified_gmt":"2023-10-16T16:42:58","slug":"hacking-into-payment-systems","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2023\/07\/03\/hacking-into-payment-systems\/","title":{"rendered":"Hacking into payment systems"},"content":{"rendered":"

Tim Yunusov is a computer scientist and security researcher with a special interest in banking and payment systems. He\u2019s also written a series of articles on hacking for New Money Review<\/em><\/a>.<\/p>\n

\"\"<\/p>\n

Tim Yunusov<\/em><\/p>\n

Tim has been hired by financial institutions to see if he could breach their online banking systems and mobile apps, their card payment systems or their automated teller machines (ATMs).<\/p>\n

In many cases he could.<\/p>\n

In 2019, for example, he showed how to get around the limit on contactless card payments (\u00a330 at the time in the UK) by altering the information exchanged by the contactless device and the card reader<\/a>.<\/p>\n

In a more recent case, Tim went around UK petrol stations using cryptocurrency-based payment cards and found he could refuel for free<\/a>.<\/p>\n

Tim has also written articles on faking digital identity<\/a>, how to steal money from buy-now-pay-later (BNPL) schemes<\/a> and whether someone in possession of your mobile phone can drain your bank account<\/a> (spoiler: the answer is yes).<\/p>\n

\u201ca step-by-step guide that will encourage criminals further in their activity of stealing money from consumers\u201d<\/p><\/blockquote>\n

His article on BNPL fraud didn\u2019t go down well with one of the main lenders, who complained to me by email that it was \u201ca step-by-step guide that will encourage criminals further in their activity of stealing money from consumers\u201d.<\/p>\n

I responded that Tim was showing BNPL\u2019s security flaws in the public\u2019s interest.<\/p>\n

But there\u2019s clearly a fine line between ethical hacking and breaching systems with malicious intent. So I asked Tim onto the New Money Review<\/em> podcast<\/a> to talk more about his work.<\/p>\n

In the podcast<\/a>, we discuss:<\/p>\n