There is now Chip and pin fraud. With chip and pin the liability is now on the consumer to prove it wasn't their transaction. Customers have had to take the ban

There is now Chip and pin fraud. With chip and pin the liability is now on the consumer to prove it wasn't their transaction. Customers have had to take the banks to court in the UK to get fraud losses removed. In these cases it has been proven that Chip and pin is infallible. Same applies online with 3-D secure.