Chip & SPIN - The Times:

James

King_Of_Fools wrote:

Skimming has absolutely nothing to do with Chip & PIN cards, specifically. All cards (including Chip & Signature) are just as susceptable to being cloned in this way.

You of course you are right on one point, you skim magstrips but you can clone chip to chip, with certain types of chip. I agree, ALL cards as they are at present (CHIP & Magstrip) are susceptible to cloning.

The big differences between Chip & PIN and Chip & Signature is

You can't use a cloned Chip & Signature card to get cash from ATMs, becasue there is no associated PIN. Access to cash without ever being challenged is thee thing that attracts crooks. They are not slow to catch on.

Fraud at ATMs is on the up.

King_Of_Fools

James wrote:

The big differences between Chip & PIN and Chip & Signature is

You can't use a cloned Chip & Signature card to get cash from ATMs, becasue there is no associated PIN. Access to cash without ever being challenged is thee thing that attracts crooks. They are not slow to catch on.

Fraud at ATMs is on the up.

You can still have a PIN with a Chip & Signature debit card to use an ATM and get your card skimmed and then cloned.

James

King_Of_Fools wrote:

You can still have a PIN with a Chip & Signature debit card to use an ATM and get your card skimmed and then cloned.

Not if you use the card as a TRUE Chip & Signature card. If a Pin is sent that is associated with the Chip & Signature card and it shouldn't be. But if its then return the PIN intact.

Therefore in theory if a PIN is never used with the card, then the card can be cloned, but not used with a PIN to obtain cash at an ATM.

King_Of_Fools

James wrote:

Not if you use the card as a TRUE Chip & Signature card. If a Pin is sent that is associated with the Chip & Signature card and it shouldn't be. But if its then return the PIN intact.

Therefore in theory if a PIN is never used with the card, then the card can be cloned, but not used with a PIN to obtain cash at an ATM.

But then you can never get money out of your account (other than travelling to a branch of your bank).

James

King_Of_Fools wrote:

But then you can never get money out of your account (other than travelling to a branch of your bank).

You can get cash back with your debit card at 24hour retailers on the strength of your signature

I've encountered no problems.

King_Of_Fools

James wrote:

You can get cash back with your debit card at 24hour retailers on the strength of your signature

I've encountered no problems.

Only if you buy something else as well.

James

King_Of_Fools wrote:

Only if you buy something else as well.

Concede.

However another solution is get yourself a banks own savings card (PIN and Signature). The cards can't be used in shops or to purchase goods via the net or by phone etc. They don't have a Visa, MasterCard or Europay etc logo. Transfer small amounts into this account and draw cash if and when you need it, at any ATM.


Latest form The Times:
http://www.timesonline.co.uk/article/0,,6-2250015,00.html

BANGALORE: Nadeem Kashmiri, employee of HSBC Electronic Data Processing India Pvt Ltd (HDPI), accused in the fraudulent transactions through ATM, debit cards and telephone banking services i

http://www.ciol.com/content/search/showarticle1.asp?artid=85768

I wonder how this was done through ATMs?