Tuesday, March 08, 2005

Surge in credit card fraud and ID cards

After all the fanfare of the new chip and pin credit cards and the catchy line "safety in numbers", it seems that the new cards aren't as safe as the technologists had anticipated. Credit card fraud has surged due to the distinctly old-fashioned postal interception as far as I can tell. I wonder if such high levels of interception will be present when 60 million ID cards are sent through the post in a couple of years? Assuming it goes ahead of course!! More importantly, if someone takes your credit card, you can always cancel it and get a new one. I would be far more troubled if some criminal element had access to my biometric data.

“Fraudsters can disable the chip, for instance by smacking it with a hammer, and pay for goods using a signature,” - what cheeky fraudsters!!

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