Google stops creating new Wallet prepaid cards over security flawFebruary 13, 2012 - 15:25 AMT PanARMENIAN.Net - Google has stopped creating new prepaid cards for Google Wallet, following the discovery of a security flaw that allows funds to be easily tapped, TG Daily reports. Google Wallet is the company's near field communication (NFC) system that allows electronic payment from Android phones by tapping in a PIN. But according to security firm Zvelo, it's possible for anyone who gets hold of the phone to access funds from any prepaid Google card linked to the device. The hacker simply needs to wipe the existing Google wallet data and then link the app to a new Google Wallet account, created with a new PIN. It's then possible to tap into the previous account and access the funds. Google's responded by suspending the creation of new prepaid cards, and says it'll have a fix for the problem soon. The vulnerability derives from the fact that critical information such as the user's account number is stored within the phone's Secure Element, while the PIN is kept as a salted hash on the device itself. Zvelo points out that fixing the problem by moving the PIN verification into the Secure Element may cause problems in itself. "The fear is that Google might no longer be responsible for the security of the PIN, but rather the banks themselves. If this is in fact the case, then the banks may need to follow their own policies and regulations regarding ATM PIN security which obviously, and rightly, receive a great deal of scrutiny," says the company. "At present, the decision is in the banks’ hands. They may actually choose to accept the risk imposed by this vulnerability rather than incur the financial and administrative overhead of allowing Google to release a proper fix (and thereby potentially put the banks on the hook for the PIN security)."
Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Second round of Armenia-Azerbaijan talks set for May 11 The second round of negotiations between the foreign ministers of Armenia and Azerbaijan will take place on May 11. About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. |