Chip and Pin "Weakness" Exposed By Cambridge Researchers

Posted by samzenpus on Wednesday September 12, 2012 @02:55PM from the get-them-where-they're-weak dept.

another random user writes "A vulnerability in the widely used chip and pin payment system has been exposed by Cambridge University researchers. Cards were found to be open to a form of cloning, despite past assurances from banks that chip and pin could not be compromised. In a statement given to the BBC, a spokeswoman for the UK's Financial Fraud Action group said: 'We've never claimed that chip and pin is 100% secure and the industry has successfully adopted a multi-layered approach to detecting any newly-identified types of fraud.'"

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Re:Never trust security through obscurity by MadMaverick9 · 2012-09-12 16:07 · Score: 1, Troll

Does cash not work over there anymore?
gee - where do you live?
It's "1984" and governments and big corporations want to know what you're doing and where you're doing it.
Can't do that with cash.