Chip and PIN, Vulnerable To Fraud

Criminals credit and debit cards do not really need to know the correct PIN in order to devour its victims.
Researchers from the University of Cambridge Computer Laboratory found that by inserting a stolen credit card and use the terminal trick that allows you to 'break' PIN trusted considered acceptable transaction.
Through Dr. Steven Murdoch, researchers from the University of Cambridge Computer Laboratory said the company is now testing the attack on credit cards issued by UK banks the largest. The result, all these credit cards were found vulnerable to attack.
Having successfully stolen funds, the victims and even difficulty in getting their funds back. "The sophistication of techniques for doing this attack is not difficult. Even the compact equipment required to perform this attack will not be easy to find in stores, "said Dr. Saar Drimer. "A criminal act can be performed even by someone who still lay in the" pump "credit card people," he added.
Professor Ross Anderson says, many banks often tell customers that their PIN has been used. It is certainly related to the Bank negligence. However, the existence of this study revealed the fact that using credit cards other people very easily, even without knowing the PIN.