re: Debit card skimmer on ATMs Fraud

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Wonder how long before they start mandating the switch.

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I wonder how long until they can steal the info from your chip and reproduce it.

They would basically need physical possession of the chip.

That's where the security comes from. A credit card is static, so you just need to intercept the data to make your own transactions.

Not only is the data coming from the chip encrypted, it also changes, lessening the value of stealing it.

It's similar to the concept of ApplePay's security. Who cares if you steal a number, the data is already expired and can't be used to buy anything.

It's not foolproof, but we are talking requiring close to a million in equipment to try and "hack" a chip card, and most criminals don't have that kind of access to resources.

I had a check stolen and used.
I had to change account numbers.
Then I bounced all my outstanding checks because my bank sucks.
That was a shitty week.

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via the internet

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Stay off the porn sites!

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How does the info change?

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I won't pretend to know the full ins-and-outs of it, but I do know that when you put a chip in, the reason why it takes longer than a swipe is because it opens a connection to the card issuer, does an encrypted handshake, and transmits the data.

There is nothing stopping data transmission in the other direction, as if your card has like an SD card.

If the number sent the next transaction doesn't match what the issuer has on file, then the transaction is declined.

So if that is how it works, it would mean that a thief would have to have a compromised terminal, decrypt the data, and clone it onto a fake card that can pass casual visual inspection, and use it before the owner of the card buys anything anywhere else.

I had it all done. A few years ago they got my bank account when I was at First Bank. They ping the acct for some odd money and then hit it. I quit using First Bank.

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Anybody have this happen to them? Any tips on preventing it? I heard if you pay for your gas inside-- it helps, as the skimmer machines that read your card are generally on the gas pumps.

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Exactly what happened to me a couple years ago. shite was annoying.

I always pay inside now.

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So does the chip already have millions of different number combinations built in already or does it basically just complete a circuit at the card issuer data bank? Hopefully my question is somewhat clear...

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No.

It would be a random, whatever digit number given to the card by the issuer AFTER a validated transaction took place.

EDIT: Keep in mind im not sure exactly how they do it.

This is only one possibility amongst many. The point is that chip transactions are a LOT harder to spoof than swipe transactions. Look at how much lower fraud dropped after Europe switched.