UK: £1M Chip and Pin Fraud Highlights Flaws in System
David Derbyshire reports for the UK's Telegraph on news of that a £1 million chip and pin fraud was uncovered by police. According to the report, fraudsters were able to create cloned plastic cards containing magnetic stripe (but not chip) data and then pull cash out of non-chip capable ATMs.
Joanna Bale also reports on the story for the Times reporting that "hundreds of customers at three Shell petrol stations have had their credit and debit card details copied and then money withdrawn from their accounts using cloned cards."
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