When 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

When 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).