26 Sep '15, 4am

Banks Introduce EMV-chipped Credit Cards To Keep Bitcoin At Bay

Quote from Krebs on security: http://krebsonsecurity.com/2014/07/the-rise-of-thin-mini-and-insert-skimmers/ “As the EAST report notes, ATM skimmers are still a problem in Europe, even though virtually all cash machines there only accept cards that include so-called “chip & PIN” technology. Chip & PIN, often called EMV (short for Eurocard, MasterCard and Visa), is designed to make cards far more expensive and complicated for thieves to duplicate. Unfortunately, the United States is the last of the G-20 nations that has yet to transition to chip & PIN, which means most ATM cards issued in Europe have a magnetic stripe on them for backwards compatibility when customers travel to this country. Naturally, ATM hackers in Europe will ship the stolen card data over to thieves here in the U.S., who then can encode the stolen card data onto fresh (chipless) cards and pull cash out o...

Full article: http://bitcoinist.net/banks-introduce-emv-chipped-credit-...

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