Think your credit card’s hack-proof chip is safe? Think
A group of researchers from the U.K. have managed to crack a
“weakness” found in chip and pin banking cards – a flaw that was previously
thought to be nonexistent.
Experts at Cambridge University found the cards could be
cloned, or copied, to make other transactions.
Here’s how they cracked it: Each time a purchase is made
using a chip and pin card, an “unpredictable number” (UN) is generated at the
This supposedly random number is used to authenticated the
card – and the purchase.
But the researchers found that “lackluster equipment” used
at sales terminals would make the number highly predictable.
In a blog post, researcher Mike Bond said the card can be
cloned once someone can predict the UN.
So what are the banks doing about this? According to the BBC, the researchers
reached out to some in Europe, which were “explicitly aware of the problem for
a number of years.” The weakness was found to be a surprise to some other
Not exactly reassuring, is that?
Hopefully, the idea is that the banks will take steps to
prevent anyone from being ripped off – but that’s before more bad guys figure
out ways to scam these chip and pin cards.
Have you been a victim of credit card fraud?
* Video: How unused credit cards can improve your credit score
- Maurice Cacho, MSN Tech & Gadgets