Chip and Pin NOT secure

  Southernboy 10:25 09 May 06
Locked

There has been a lot of talk about this in the past. The banks have pushed this method as so secure that fraud was bound to fall dramatically.

I think many of us were cynical at this claim, knowing that it does not take long for some crook to work around any new security measure.

And it has happened. The media say now that it is even easier to crack Chip and Pin than the previous method. You may remember the film, CATCH ME IF YOU CAN, with the character played by De Caprio, who managed to defraud the major airlines and financial instutions for years, finally being employed by the FBI as a troubleshooter. Well, he was on ITV yesterday and explained how easy it was to get round Chip and Pin in the USA.

So, another false dawn?

  spuds 11:08 09 May 06

Like any new security or safeguarding system, nothing is 100%. More so, when there are people out there ready to made a fast buck.

Take the recent large scale petrol station ATM scamming event for instants.

  Skills 11:13 09 May 06

I aggree I quite often notice when im in a supermarket or the like someones merily tappin there PIN in for all and sundry to see.

Wouldnt take much for someone to shadow that person and then steal there cards at a later date.

Then again the ammount of times Id sign for something and the cashier hadnt even check my signiture with that on the card just pressed the buttons and that was that.

  dms05 11:18 09 May 06

If you want to really worry read about how people steal PIN codes at source click here

  Stuartli 12:56 09 May 06

>>Like any new security or safeguarding system, nothing is 100%>>

Chip and Pin was in common use when I was in Florida in 1993; it's also, IIRC, been in use in France for some time.

  Southernboy 13:58 09 May 06

But I gather all these eastern European gangs have cracked it with laptops.

Now Tesco are having to take their ATMs off-line until they can do something about it.

  namtas 14:01 09 May 06

Where did I put that cheque book?

  jimmybond 15:21 09 May 06

As soon as the banks can catch up, and make an ATM that reads the chip, aswell as the magnetic strip, then it will be difficult for the fraudsters.

Until then, anyone that uses a chip/pin unit, to pay for something, risks having their account emptied. I'm sure everyone thinks they can recognise the dodgy ATM fronts - but there is NO way of spotting a 'rigged' card reader, as the inside of the 'real' unit has been tampered with.

And you can't hide your PIN either - the units that have been tampered with collect that data, along with the strip info, as you type it in.

  Stuartli 15:51 09 May 06

>>Now Tesco are having to take their ATMs off-line until they can do something about it.>>

Tesco has stated it is "taking new measures" to reduce the opportunity for tampering rather than taking its ATMs out of action.

It was also suggested that new ATM fronts would be installed to minimise the risks.

  GANDALF <|:-)> 16:03 09 May 06

There are billions of chip and pin payments EVERY day. The incidence of fraud is miniscule and if there is fraud the money is refunded. Can't see any problems apart from utter paranoia and an inability to view the larger picture. I will give this no more thought at all.

G

  GANDALF <|:-)> 16:19 09 May 06

..it is also infinitely more secure than walking around with the folding stuff on your person.

G

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