The FBI warns of weaknesses in chip-and-sign credit card systems

Image Source: Article

Image Source: Article

The FBI has a stern warning for the credit card industry's latest security measure, the EMV chip. In a statement today, the FBI's Internet Crime Complaint Center warned that the new chips don't prevent against online fraud or point-of-sale compromises of the type seen in the Target hack. The warning emphasizes the weakness of signature-based systems ("chip and sign" rather than "chip and PIN"), and instructs merchants to require a PIN number in place of a signature wherever possible. "This fully utilizes the security features built within the EMV card," the warning states.

Read the full article