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September 13, 2012 04:05 am

Chip and Pin "Weakness" Exposed By Cambridge Researchers


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.'"

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/PAGgpz5U9as/chip-and-pin-weakness-exposed-by-cambridge-researchers

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