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Chip and PIN terminals hacked

Experts say proof-of-concept research reveals terminal design and card authentication standards flaws.

By Miya Knights, 29 Feb 2008 at 11:31

"That there is no evidence that says that chip technology has been cracked," added Olson. "Yes, the UK does use Static Data Authentication (SDA) cards however there will be a move towards Dynamic Data Authentication (DDA) at some point, which will provide more security. The UK banks are now paying some of the price for going with SDA rather than DDA cards when they were rolling out chip and PIN."

Both Olsen and Quinn also said all UK issued cards issued after 1 January 2008 include an updated integrated circuit card verification value (iCVV), which means that if one of these cards were compromised and a fake magnetic stripe card was created via a compromise of this type would be ineffective in cash machines and even non-chip and PIN using retailers.

Verifone had not responded to request for comments at the time of writing.

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