UK Chip And PIN Scare
Clement James reports for vnunet.com that "researchers at Cambridge University claimed last week that a flaw in the system could lead to consumers being duped by fake machines" and describes the response by APACS to the news. Jaikumar Vijayan covers the story for Computerworld. Dave Birch shares his opinion about this "threat" on the Digital Money Blog. The basic issues is that chip cards, when they also contain the mag stripe, can be skimmed and, in the right environment, the consumer's PIN can also be captured and then used to perpetrate fraud at a non-chip reading POS or ATM location (for example, in Spain or the US or many other countries).
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