I thought Chip & Pin was meant to be safe..
- Thread starter Duke
- Start date
*Sigh*
Chip & Pin released in France
One year later, drop in credit card fraud 80%
These figures speak for themselves.
No system is perfect, no system is going to result in no more fraud.
However the fact that chip & pin has always resulted in a drop in credit card fraud cannot be described as a bad thing.
"Chip & Pin - worst security ever"
That's right, the security is so much worse than what we had before - the authorising signature actually printed on the card and never actually checked by anyone.
Chip & Pin released in France
One year later, drop in credit card fraud 80%
These figures speak for themselves.
No system is perfect, no system is going to result in no more fraud.
However the fact that chip & pin has always resulted in a drop in credit card fraud cannot be described as a bad thing.
"Chip & Pin - worst security ever"
That's right, the security is so much worse than what we had before - the authorising signature actually printed on the card and never actually checked by anyone.
Jonny L said:LOL I wish you could get tetris on those things, then they could give you money off what you're buying if you win,
Some Japanese ATMs have slot machines on them: if you get a certain combo your withdrawal fee is waived, and another you get £5/£10 free. It's awesome
But....but..... he put "Fact" at the end of his post, so it must be true!dirtydog said:
That video means absolutely nothing. It even says in the description that they replaced the internals. I could replace the internals of a scrap ATM and get it to show porn films in widescreen but that wouldn't mean anything about the security of them either.
he's not saying that every C&P terminal can do it BUT if thats possible what else is possible, we're not talking about terminals in ASDA or TESCO but small retailers who may wish to... how shall we say... fiddle with their terminal for their own means.
C&P is less secure, most people would struggle to copy someone elses signiture and use it before the card was reported stolen, but how easy is it to remember 4 digits?? But as posted above this system means the bank doesnt have to pay out, Fraud maybe down 80% but does this mean that frauds is actually down? I dont think so, what its more likely to be is that the figures they are reporting are based on the amount they have HAD to pay out and this will be down as C&P puts the blame on the customer...
C&P is less secure, most people would struggle to copy someone elses signiture and use it before the card was reported stolen, but how easy is it to remember 4 digits?? But as posted above this system means the bank doesnt have to pay out, Fraud maybe down 80% but does this mean that frauds is actually down? I dont think so, what its more likely to be is that the figures they are reporting are based on the amount they have HAD to pay out and this will be down as C&P puts the blame on the customer...
No it doesn't, unless the customer has been demonstrably negligent - eg. writing down their PIN on the card. The onus is still on the bank to prove that the customer was negligent, not for the customer to prove their innocence.arfur said:
dirtydog said:
Wrong.
From day 1 of a fraud investigation for a transaction at an ATM or POS, if the PIN is used correctley with no failed PIN attempts, liability is with the consumer.
There is no way to extract the PIN from the card, so the PIN must have been available for the 'scammer' to use, ie carried about the cardholders person... which is AGAINST the T&C's.
In the case that the card has been reported stolen/lost, responsibility goes to the bank, and they will cover any financial loss at this stage.
If, however, the transaction has been authorised over the phone/online (Known as CNP) then of course liabilty goes to the bank initially to the bank whilst the case is investigated.
Yes, yes they do.hybrid said:
@ the OP. This is quite humerous really, fair play to them I say. I never use chip and pin, I've been using a different approach to always getting the cash out over the counter just to keep the UK bank staff in a job!
Faithless said:
I can confirm it as accurate, as I deal with it every day.
Dirtydog, can you tell me where your knowledge comes from? I dont think some programming knowledge and info on the internet qualifys an answer.
Remember, I am not saying that cases of card fraud using the PIN are always the users fault (Although it is almost 90% of the time, it normally turns out they gave it to a friend/colleage to get money for them..) I'm simply saying that the spotlight is on the user at the start, rather than the bank. It will still be investigated of course, which includeds looking at ATM video data, and of course local CCTV to conclude who has used the card.
Btw, anyone claiming card fraud that has been found to be somewhat bending the truth will be reported to the police themselves for their own fraud, and have their accounts closed.