Trends in Financial Services

Is the use of PIN for every purchase justified?

13 Oct 2008

Every use of the PIN exposes it, and the exposure has a cost attached. For small value transactions, say less than 50 Pounds, it is probably not economically justified. Moreover, establishements where most of the transactions are low value could probably use much cheaper terminals, that do not have PIN pads at all. No PIN used, no PIN stolen.

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Trends in Financial Services

Could EMV have prevented the TJX breach?

08 Sep 2008

I quote from the Boston Globe: "In one of the first interviews by a top TJX executive following a record security breach, vice chairman Donald G. Campbell told the Globe that the US payment system should follow countries in Europe and Asia that have rolled out credit and debit cards embedded with computer chips. If the cards were in use world...

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How did they obtain the PINs?

28 Mar 2008

The important issue, in my mind, is how did the fraudsters obtain the ATM PIN codes.

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Trends in Financial Services

Diebold

08 Mar 2008

Diebold is one of the leading vendors of ATMs worldwide, and is now in the news: http://www.diebold.com/ http://finance.yahoo.com/q/h?s=dbd Whatever the outcome of the current boardroom hassle, it is obvious that things had gone wrong and that the future management of Diebold, whoever they be, will have to reassess the company and its ways. From a ...