PIN code

From :

"Enter your PIN....
If you care to delve back to my post of 1st November 2005, you will see that I was suspicious of the introduction of "chip and pin" for the reasons I gave then. But I was prepared to accept that it was a more secure method than "sign the chitty" which it replaced. But now it appears that it is not that secure. Researchers at Cambridge University have demonstrated that the terminal in the shop can be fooled into thinking that the correct PIN has been entered when it hasn't - and even more worryingly the bank records will show that it was, and therefore you will have little or no chance of getting your money back. The only saving grace is that to perpetrate this fraud, your card needs to be used, so the moral is - be sure to keep your cards safe!"

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