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Submission + - Chip and pin (EMV) 'weakness' exposed by Cambridge researchers (bbc.com)

another random user writes: A vulnerability in the widely used chip and pin payment system has been exposed by Cambridge University researchers.

Cards were found to be open to a form of cloning, despite past assurances from banks that chip and pin could not be compromised.

In a statement given to the BBC, a spokeswoman for the UK's Financial Fraud Action group said: "We've never claimed that chip and pin is 100% secure and the industry has successfully adopted a multi-layered approach to detecting any newly-identified types of fraud."

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Chip and pin (EMV) 'weakness' exposed by Cambridge researchers

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Every cloud has a silver lining; you should have sold it, and bought titanium.