A Cambridge University team announced that they had found a flaw in chip and PIN so serious they think it shows that the whole system needs a re-write. A stolen card (Europay, MasterCard, Visa) is connected to an electronic circuit and to a fake card which is inserted into the terminal. Any 4 digits are typed in and accepted as a valid PIN, reported Хакер.ru.

A member of the research team said the amount of technical sophistication needed to carry out such an attack is really quite low. The criminals can carry the device in a knapsack and hide the wires in the sleeves. They can use it for illegal transactions.

NEWS.am-Innovation reminds the reader that 50% of illegal transactions involve the aforementioned cards.

T.P.