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Originally Posted by nffc
But that is the point.
The woman was saying that there were no deficiencies in the new C+P cards- which, as they have the strip still, are prone to the same problems as non-C+P cards in that all the data may very well be encrypted on the chip, but it's still on the bleeding strip! Add into that the banks since rolling out C+P cards are shifting their fraud liabilities onto the consumer more, whilst the deficiencies are still there, it's just wrong, which was the point of the programme.
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I would like to clarify here that the banks are moving the liability for fraudulant use away from themselves to the RETAILER, not the consumer. This move only occurs when the retailer accepts a signature on a C&P card instead of a pin. Swipe and sign liability stays where it is.
The only time you would get the CONSUMER suffering more than the default £50 is if the consumer loses the card and the pin number and many chip and pin transactions occur and they could argue that you were negligant in your maintainance of these two pieces of information. If you were shoulder surfed, mugged and your cards used you would be in a pretty strong position as long as you reported them stolen promptly. At the moment if you knowingly let a stolen card remain unreported for a length of time you would be in the same situation - nothing here has changed except the wording has been made more explicit - don't write the pin on the card/postit note in your purse(or wallet) - if it gets nicked then you will be liable for the losses incurred.