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An article relating to this blog post on Finextra:

Halifax facing chip and PIN fraud lawsuit

UK high street bank Halifax is facing a lawsuit brought by a customer who claims that fraudsters cloned his chip-based card and withdrew £2100 from his account at ATMs.

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Interesting precedent to be set...

What will the consequences be either way, Ladies & Gentlemen?

That there are flaws within the system itself is obvious.  The fallback to signature if there's a fault with the chip is just too simple to exploit.  Is the issue the technology within the mag-stripe and chip, or is it that there are basic problems with PIN itself?

But if it's the case that Chip & PIN isn't the magic bullet that it was touted as, do the banks have a viable alternative?

Who else has seen GrIDsure? 


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