More Security TheaterSo does the new chip and pin cards increase their security.
The answer seems to be: sort of, a little, but not a whole lot, almost as efficient as the TSA airport theater.
According to Jerry Irvine, who is a member of the U.S. Chamber of Commerce Cybersecurity Leadership Council and CIO of Chicago-based Prescient Solutions.
More security theater?
It sounds that way when Jerry starts reeling of the kinds of attacks the new cards will do nothing to prevent.
Even so, October 1 is the date after which merchants are supposed to be liable for fraudulent purchases made with old-style cards, and are supposed to have point of sale terminals that accept "chip and PIN" cards.