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A flaw in chip and PIN threatens millions of accounts

Visa cards Visa cards

Scientists have discovered a flaw in chip and PIN technology that could endanger millions of credit and debit cards

It’s been four years since the chip and PIN system became universal on Valentine’s Day 2006, replacing the use of signatures. But now, just as we’ve developed our own discrete ways of punching in PIN codes, we’re told the technology could be flawed.

The discovery suggestsstolencards could be used in shops and bank cash machines without needing to key in the four digit PIN.

According to researchers, thieves are attaching a small circuit
board containing a computer chip to the stolen plastic card, which can
be concealed up the sleeve.

This chip communicates with a
computer stored in the backpack worn by thecriminalwhen using the
card at a cash-point or shop. When asked for a four-digit PIN to make a
transaction, they only need to key in random numbers.

Professor Ross Anderson, form the Cambridge University Computer Lab,
has discovered several ways to beat the thieves, but insists the
software surrounding this system should be urgently re-written.

‘We
think this is one of the biggestflawsthat has ever been uncovered
against the PIN system, and I have been in this business for 25 years,’
he said.






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Date: 09.12.2018, 15:12 / Views: 42535