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Tuesday, February 06, 2007

Chip and Pin Weaknesses Exposed

The BBC's consumers' programme, Watchdog, has exposed a security weakness in chip and pin technology that allows fraudsters to harvest security details.

Cambridge University researchers said that the details could be hijacked if a card is put into a doctored payment machine.

Details can then be sent wirelessly to accomplices and purchases made using a fake card with those account details.

A spokesman for UK payments association Apacs said there was no evidence the method had been used in the UK.

This of course is a totally meaningless statement; as it does not mean that this method has not been used, also it does not mean that this method might not be used in the future.

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