The Bankwatch

Tracking the consumer evolution of financial services

Security Expert Says Chip-And-PIN Facilitates ATM Fraud

Now that UK has moved to pin/ debit, this security expert points out that the opportunities for fraud are expanded because of the variety of security in existence at the point of sale endpoints that now require PIN.  This has always been the case in Canada, and its known that POS terminals are one of the weak links in the network infrastrucuture. 

Card Technology, The Smart Card News Source

Today, however, consumers must enter their PINs at any point-of-sale terminal, which makes it much easier for criminals to obtain the data, Bond says. “Now there are hundreds and hundreds of thousands of devices, with a lot more variety in the levels of security as well,” he points out.

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Written by Colin Henderson

May 10, 2006 at 16:45

Posted in Debit cards, Payments

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