Forget about security! It turns out that the Chip-and-PIN cards are just as easy to clone as magnetic stripe cards.
It took researchers just a simple chip and pin hack to withdraw up to
$50,000 in cash from an ATM in America in under 15 minutes.
We have been told that EMV (Europay, MasterCard and Visa)
chip-equipped cards provides an extra layer of security which makes
these cards more secure and harder to clone than the old magnetic stripe
cards.
But, it turns out to be just a myth.
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