Yes indeed… Chip-and-Pin is NOT unbreakable!

10 May

a sophisticated (yet not clear) fraud attack hit the well-known petrol company “Shell” in the UK… the attack cost Shell £1 million ($1.45 million) and suspended the Chip-and-Pin payment system!!

Shell petrol stations are now taking the customers’ signatures instead of their SC+4 digit PIN… A Shell spokeswoman told the BBC that the “Shell’s Chip-and-Pin solution is fully accredited and complies with all relevant industry standards.” And while the service was suspended, the company hoped to reintroduce it as soon “as it is possible, following consultation with the terminal manufacturer, card companies and the relevant authorities.”


Such attack will without doubt shake the consumers trust in modern Chip-and-Pin payment systems!
I totally agree with Andrew Moloney (senior product manager at RSA Security’s consumer solutions division) as he said:
“The fact that the first breach has occurred so soon after the full implementation in February, shows just how determined and sophisticated today’s fraudsters are”

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