New Hack Lets Attackers Bypass MasterCard PIN by Using Them As Visa Card

Cybersecurity researchers have disclosed a novel attack that could allow criminals to trick a point of sale terminal into transacting with a victim's Mastercard contactless card while believing it to be a Visa card. The research, published by a group of academics from ETH Zurich, builds on a stud...

Chip and PIN EMV Protocol security vulnerabilities found

Chip-and-PIN payment cards are coming to the United States after a long head start as a standard card-present payment method in Europe and Asia. Already, retailer Target accelerated its plan to move its branded debit and credit cards to chip-and-PIN, also known as EMV Europay, MasterCard and Visa...

Chip and PIN payment card system vulnerable to Card cloning

At a cryptography gathering in Leuven, Belgium, on Tuesday, Cambridge University researchers made it known that they do not like what they see in chip and pin systems. The chip and PIN system employed by most European and Asian banks is definitely more secure than the magnetic strip one, but it...

Flawed EMV Chip-and-PIN Protocol Paves Way To Fraudulent ATM and POS Transactions

A flaw in the EMV protocol which lays out the rules for chip-and-PIN card transactions at ATMs and point-of-sale terminals could enable persistent attackers to carry out bogus card transactions. Five Cambridge UK University researchers released a paper today with the gory details. Foremost among...

Researcher Develops Small Device to Intercept, Modify Electronic Payments

With bank fraud and attacks against financial institutions and online banking applications having turned into an epidemic, researchers, banks and other concerned parties have been looking for new ways to protect the integrity of financial transactions. A researcher at the University of Cambridge...

Chip and PIN Security Completely Broken by New Attack

A group of researchers has found a significant flaw in the chip-and-PIN security system used by credit card companies in the UK. The weakness allows an attacker to use a card without the PIN associated with it. In a normal transaction using the chip-and-PIN system, the cardholder needs to enter a...