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> From what I've found online, chip-PIN does indeed reduce fraud, but when fraud does happen, it becomes extraordinarily difficult for the cardholder to get a r
by patrickk 13y ago
> From what I've found online, chip-PIN does indeed reduce fraud, but when fraud does happen, it becomes extraordinarily difficult for the cardholder to get a refund from the bank.
I live in Europe, and twice in the last two years or so my card details have been compromised, and both times my bank has rang me to notify me of suspicious transactions before I'd even noticed. It depends on the bank (and the country most likely) with regards to getting a refund. I got refunds no problem, but I've heard people having problems in the UK. The fraud happened online (not sure how, I'm reasonably tech savvy and careful with my card details).
- rahoulb 13y agoWhen Chip and PIN came in, as part of the TOS that you accepted by using the card, it included a clause that the bank is not liable for any fraud on the card as Chip/PIN is unbreakable (the implication being you must have given away your PIN). I believe that this has now changed (although I've not had a new card recently and I don't remember seeing any new TOS).
- vidarh 13y agoThe big gaping problem of course being that most fraud does not involve chip+pin transactions, but online transactions that are no better protected than before.