Chip and Pin Fraud
 

Just seen Tonight with Trevor McDonald about Chip and PIN fraud.

Pretty harrowing, the magnetic strip is pretty vulnerable :o and the system's nowhere near as safe as common perception. And the woman on there from the banking association or whatever it was, was so f*cking naive it was untrue.

Anyone else see it / have an opinion about it?

Re: Chip and Pin Fraud
 

no system is going to 100% safe to be fair , where there is technology , someone will crack it :disturbd:

Re: Chip and Pin Fraud
 

Well we had it on in the background but didn't really watch it - but I did hear the bit where they said that now the banks will blame any fraudulent use of the card on the card owner, as they seem to think the 'chip and pin' system is foolproof! And yet they had several customers on the programme whose card details had been used fraudulently.
It seems we will still need to be vigilant!

Re: Chip and Pin Fraud
 

hang on ... whats that about the magnetic strip ? ... i thought that was being replaced by the chip! Sorry I missed the show.

Re: Chip and Pin Fraud
 

I think they still form an integral part of the card - and of course there's always internet fraud for those pc users who won't be bothered to protect their pc's!
One woman even gave out all her security details over the phone to someone who said they were from the bank! :Yikes: No amount of security measures will ever protect some members of the public I think!

Re: Chip and Pin Fraud
 

aahhhhhhh .... i see. yeah, remote transactions are inherently insecure. all that can be done is to make it as difficult as possible for newbie fraudsters. then of coarse theres always the moron thay actually writes his PIN on his card (yes it happens) !!!!

Re: Chip and Pin Fraud
 

Yes I saw the program. And yes while the magnetic strip stays on the back of credit/debit cards,the criminal will always be able to circumvent the chip.
You can see how easy it was with the right equipment. Take away the magnetic strip and make all cards chip read only and also the shop readers chip read only.Then it would be a lot safer. But that is years away. Until that time you have to be vigilant. I always cover the shop chip readers with my hand as I put in my code. And don't give your security info to anyone on the phone. Banks never ask for this info at all. Especially on the phone.

Re: Chip and Pin Fraud
 

I do (or my wallet, coat, or anything I have).

How naive was that banking woman though?

Re: Chip and Pin Fraud
 

i have just been shoping and no shop is doing chip and pin they all are asking you to put you name down like back in the old days . i did ask why and all i got wos " do not ask you would never use your card if you did " any one know an thing about it ??

Re: Chip and Pin Fraud
 

The RSA encryption method is 100% secure, ...well one can crack it but it will take 100 years or so to get the answer (the decoding time depends on the number of bits used for the encryption)

Re: Chip and Pin Fraud
 

How can it be secure if they've already cracked it?

Re: Chip and Pin Fraud
 

2 out of 3 transacttions can be done with Chip and Pin. If retailers do not upgrade, they will will have to pick up all fraud costs (from early next year...)

see http://www.chipandpin.co.uk/reflib/d...ardholders.pdf
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Suppose that you encrypt your pin with RSA and you put the encrypted version on the web.

The faster computer or supercomputer or cluster of computers will take over 100 years to crack it (128 bit encryption). So in 100 years everyone will have your pin. Do you care if this happens?

In fact 200 digit encryption requires billion years to crack

Re: Chip and Pin Fraud
 

And don't forget you can change your pin anytime. Usually by going to a cash machine or by phoning the bank to send you another one.If you go to a cash machine, an indoor one preferably, you can choose which pin you want.

Re: Chip and Pin Fraud
 

There was another program, where the "hacker" read the stripe from a "chip and pin" card, used a program to reset the "chip & pin" bit and then wrote it to the stripe on another plain card.

Card + pin (no chip) worked perfectly.

The chip itself, is a whole new ballgame for security, but at the moment, it can be 100% BYPASSED!

Re: Chip and Pin Fraud
 

1) At present.

2) It's much easier to simply "shoulder surf" someone's number and then steal their card when they leave the shop.