Cambridge University have created a device that can use your chip and pin card without the pin. This large device can’t be used at ATM’s. It is for the small terminals used to carry out transactions in shops. When the device is entered into the terminal with the card attached the user can use any four digit number and the transaction will go through.
This device is only the prototype but works effectively. As it is only a prototype Cambridge University have said the device could be made could made much smaller and fit into the palm of your hand fooling unsuspecting shop assistants.
The good news is this device can only be used with your physical card so don’t lose your debit or credit card! Well if you do cancel it swiftly.
The bad news is there’s another way to steal your money!
Using a hacked terminal. A hacked terminal will work like normal, asking you to enter your pin and show the price you are going to pay. The problem is the amount you are paying is different from what appears on the screen. So you could be paying hundreds or thousands more. So to avoid this check your statements regularly or don’t pay by card to that weird man in the back alley.
Police have not caught anyone using these types of devices yet but University of Cambridge state that there are signs that similar devices to these are out there. The look or shapes of these devices are unknown until the police catch a user of such a device.
I am not sure I trust those guy’s at Cambridge University anymore. Why are they developing such machines that work so well? Maybe it is those funding cut’s that have pushed Cambridge University to raise funds by any means necessary.
I Give it:
