I don't think that's quite clear yet. I think what they are saying is anybody/any country not using chip-and-pin is basically asking to be defrauded at this poi

I don't think that's quite clear yet. I think what they are saying is anybody/any country not using chip-and-pin is basically asking to be defrauded at this point. If you post your card to Instagram, you'd expect to get defrauded, magstrip/swiping is pretty much that but in a computer readable format. (Yeah, it's not usually public but that doesn't make it secure.)