[Cryptography] Insecure Chip 'n' PIN starts tomorrow

[Watson Ladd]

On Sep 30, 2015 3:43 PM, "Henry Baker" <hbaker1 at pipeline.com> wrote:
>
> FYI -- More like Bait 'n' Switch...  This isn't about fraud at all, but
about shifting liability away from the banks.

Is the relevant payment regulation shielding consumers being changed? No.

>From my perspective I don't care how banks and merchants divide the cost of
fraud so long as I don't have to pay. That's what went wrong in the UK
rollout.
>
>
http://www.wired.com/2015/09/big-security-fix-credit-cards-wont-stop-fraud/
>
> “Chip and PIN has been proven to combat fraud dramatically,” says Brian
Dodge, executive vice president of the Retail Industry Leaders
Association.  “But that’s not what American consumers are getting, and thus
far banks have gone to great lengths to blur the lines between the two
distinctly different transactions.”
>
> “[The American banks are] more interested in protecting themselves than
they are in helping the retailers out.”
>
> 'Visa and MasterCard could have resolved this problem by forcing card
issuers to use chip ‘n’ PIN only; but they never did.'
>
>
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