On 03/17/2017 11:01 AM, John Robinson wrote: > > Ahhhh, the wonders of Chip Credit and Debit cards, they are very > unlikely to be hacked….says who? > > I’ve had TWO hacked within the past month, my Chase Debit card with > $700.00 in airline fees from Germany, then a credit card from another > bank with someone going wild shopping in San Francisco.
A good part of this is because banks talk security, but don't practice it. Chip and signature is easy to fake. Chip and pin is a lot harder. Who knows what your signature looks like? Anyone can get away with signing your name. It's a different matter, if there's a four or six digit pin that the thief doesn't know. Even though chip and pin is used all over the world, U.S. banks don't require it. I was reminded of this in an uncomfortable way in December, when my wife's wallet was stolen. Within a couple of hours the thief had charged several thousand dollars to her credit cards at Home Depot, Lowe's and Wal-Mart. If a pin had been required, it would have been a lot harder to use the cards.
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