Switching from pin and chip cards to contactless ones seemed like the perfect way to stay safe from credit card skimmers. However, a new Android malware abuses the same technology used for tap and pay to steal payment data from unsuspecting victims.
As reported by The Hacker News, the malware in question has been dubbed NGate by security researchers at ESET, and it steals NFC data to clone contactless credit and debit cards on a hacker’s smartphone. With these cloned payment cards on their phone, they can drain a victim’s bank accounts by using them to withdraw funds at ATMs.
