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The chip-enabled credit card system long used in Europe, a watered down version of which is rolling out for the first time in America, is meant to create a double check against fraud. In a so-called “chip-and-PIN” system, a would-be thief has to both steal a victim’s chip-enabled card and be able to enter the victim’s PIN. But French forensics researchers have dissected a real-world case in which criminals outsmarted that system with a seamless chip-switching trick—and pulled off the feat with a slip of plastic that’s almost indistinguishable from a normal credit card.
French computer security researchers at the École Normale Supérieure university and the science and technology institute CEA late last week published a paper detailing a unique case of credit card fraud they analyzed as investigators in a criminal case. Five French citizens (whom the researchers didn’t name in either their paper…
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