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Credit, debit cards with chips remain vulnerable to fraud

Credit, debit cards with chips remain vulnerable to fraud | Business Transformation | Scoop.it

The president of PayPal said hackers probably cloned his credit card during his recent trip to the United Kingdom, even though the card was outfitted with chip technology that makes it harder to replicate plastic.

Karl Wabst's insight:

Every pin and chip card I've seen that is issued by a US bank also has a back-up magnetic strip on it. Hackers probably targeted that and did not clone the chip. The Post article completely missed this fact.

 

 

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Business Transformation
Corporate & Business Strategy Planning / Execution in the Post Industrial, Digital Economy. Want to know more? Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
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