Banks are ‘encouraging’ fraudsters to steal ‘billions’ of pounds from customers by denying that exploits in chip and pin systems are possible – and the watchdog is allowing them to do it, a leading expert has claimed.
Chip and pin was introduced in the UK in the early 2000s after banks accepted security failings which meant magnetic strips on debit and credit cards could be cloned, letting criminals rinse victims at cash points.
But scientists, such as security engineering professor