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European Payment Card Hack Discovered by Cambridge
Category : General 16 Feb 2010 12:54 PM | Industry News
European banks hail the system as more secure, as U.S. cards do not have the microchip, which has so far prevented some types of card cloning.
It seems that those European credit and debit cards with embedded microchips aren't so secure after all and can be tricked by criminals with relatively unsophisticated electronic equipment
Cambridge researchers have found a weakness in the complicated EMV protocol that allows for a man-in-the-middle attack. The attack requires high-level knowledge of the chip-and-PIN system and some external hardware as the researchers demonstrated on the BBC's Newsnight program on Thursday. Nonetheless, “this flaw is really a popper",said Ross Anderson, professor of security engineering, on Newsnight.
Researchers at the University of Cambridge have uncovered a flaw in European payment cards that can allow a hacker to enter any random PIN to complete a transaction. The cards over there have a microchip that verifies a PIN entry and has inhibited card cloning attempts. As you can expect, this communication can be exploited.