I read about the German fraudster jailed in the UK recently. The BBC claimed his technology could remotely read card details allowing him to potentially earn up to £150m a year.
It makes me wonder why the UK, and other countries, do not adopt the very simple innovation most banks in Brazil use – though I believe it was initially pioneered by HSBC.
You put your card in the ATM and enter your PIN as usual, but then a new set of options, looking at bit like this is presented:
The letters are in fact all randomised and different every time. Every customer not only has a four digit numeric PIN, but a three character password too. But you never type your actual password… in the collection of randomised characters you press the button closet to the character you want to type.