Hopes have been high for the chip-and-PIN security technology for credit card protection. But it looks like even this new technology may not be enough to stop resourceful hackers and identity thieves that really want to get a hold of your sensitive credit card information.
These supposedly “tamper-proof” security devices are already proving themselves capable of being toyed with. Two members of the Cambridge University Computer Laboratory took on these devices to see just how tamper proof they really are. They found that it was easy to compromise the system and to relay the credit card information from the real credit card to a fake one.
Apparently, these two gentlemen were capable of compromising the security of a bank machine, creating a scenario in which the terminal was directly connected to the laptop of a thief rather than to the bank as it should be. In this way, the thief could gain information from the terminal without setting off alarms that something was amiss.
This latest news is particularly frustrating for security experts. It seems at though it’s becoming impossible to stay ahead of thieves willing to put the time and effort into breaking through security measures currently in place.
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