“Large banks and card issuers are ready for the U.S. shift to chip-and-PIN technology, according to a report issued Wednesday. But the drop in fraud that is expected to result is unlikely to come any time soon.
The use of EMV-style chip cards is supposed to make retailers like Target less appealing targets for hackers because they will be storing less card data. However, the way the U.S. is implementing EMV leaves plenty of room for the continued use of fake cards. And there is a plethora of ways hackers can use stolen card information without using a physical card.”
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