Thieves are intercepting debit cards in the mail, removing their chips and replacing them with older or invalid ones, and then using the stolen chips when their rightful owner activates the sabotaged card.
Prilex, a point-of-sale malware program that's historically been used to steal money or payment card information from Brazilian ATMs and retailers, has now evolved into a comprehensive tool suite allowing chip and pin card data theft.
Black Hat Las Vegas: Point-of-sale experts bypass security measures in popular PIN pad, including EMV protections
After physically demonstrating how to hijack retail point-of-sale transactions - including those using EMV-standard chip cards - two security experts from NCR Corporation offered attendees at Black Hat critical tips on preventing such incidents in real life.
Criminals have figured out ways to 'hack' chip and pin cards, several years after University of Cambridge Researchers proved it was possible.
Worldpay, a payment processing technology company, said it's researching using facial recognition in stores around the UK as a card fraud preventative measure.