Hacker News Comments on
Chip & PIN Fraud Explained - Computerphile
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All the comments and stories posted to Hacker News that reference this video.One trick (which I believe has been fixed) is not so much a replay attack but a multiple transaction attack. A modified terminal makes multiple transactions on the card while the card is still in the terminal, coupled with another attack that modified what was presented on the screen of the terminal could turn a single $5 transaction to 3 $500 transactions.The video is 3 years old now but still worth a watch discussing the attacks they have seen on Chip and Pin - https://www.youtube.com/watch?v=Ks0SOn8hjG8
Computerphile video on Chip+PIN fraud: https://www.youtube.com/watch?v=Ks0SOn8hjG8
I want to have a system which protects me from money loss (through my own fault, a malicious third party, or my bank's fault). I don't care how as long as I'm protected. With Chip-and-PIn cards, I'm not protected because I have to proof that it was not my fault (which can be incredible difficult to do). So, I personal prefer cards that require a signature.It doesn't matter to me if it has a chip or not (the chip has nothing to do with the pin, there are also chip-and-signature cards and cards that support both. The chip makes it hard to physically clone the card).
If you are interested in the downsides of the new pin card, checkout this video: https://youtu.be/Ks0SOn8hjG8
So, if zero authentication means that I am not liable for financial damages, I'm happy with it but I wouldn't bother to use a pin if I had the same liability. Unfortunately, the pin adds laughable authentication which makes me liable for many types of fraud (see the video).
This is a good overview by some researchers in the different ways Chip and Pin can be hacked.This explains this hack as well.
Watched this a couple of days ago and found it quite interesting talking about C&P flaws https://www.youtube.com/watch?v=Ks0SOn8hjG8
⬐ bardworxGreat video. I just posted it in a reply to another comment.My biggest takeaway is that all systems are safe until the bad guys really try to break them.