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New chip-and-pin danger
Aug 14 2008, 17:26 PM
Fraudsters are now using illegal chip-and-pin card readers to help them con the British public out of money.
Fraud investigators discovered criminals using the new method of attack in Birmingham after a raid on a factory.
Apacs spokeswoman Sandra Quinn explained what has been happening.
"Whereas fraudsters used to put pinhole cameras above the chip and pin device to get hold of the pin number, they now manipulate the chip and pin terminal to get that basic data," she said.
"They steal readers from retailers, cracking them open, and try to recreate one and then put it back in a shop.
"We have been aware that this has been going on because police have been getting reports that terminals are being stolen."
So far, there have been 24 confirmed cases of altered machines in UK retail outlets, with the full extent of the scam yet to be seen.
The chip-and-pin scheme was only brought last year at a cost of £1.1 billion, according to the Financial Times.
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