News

Security of chip cards questioned

March 16, 2005

This is London: Fresh fears emerged over the security of chip cards and PINs after experts claim to have copied them for the first time, revealing a "fundamental flaw" in the system.

The March 15 edition of television's London Programme will include a report on how an industry insider copied a chip and PIN card and took cash from an ATM.

Apacs, which represents the UK's banking payments system, said it was aware of the flaw. "We are in a transition period with chip and pin, and this problem will not exist once that is complete," said a spokeswoman.