UK: Chip and Pin Scam 'Has Netted Millions From British Shoppers'
Henry Samuel writes on the Telegraph.co.uk:
Dr Joel Brenner, the US National Counterintelligence Executive, warned that hundreds of chip and pin machines in stores and supermarkets across Europe have been tampered with to allow details of shoppers' credit card accounts to be relayed to overseas fraudsters.More here.
These details are then used to make cash withdrawals or siphon off money from card holders' accounts in what is one of the largest scams of its kind.
In an exclusive interview with The Daily Telegraph, America's counterintelligence chief said: "Previously only a nation state's intelligence service would have been capable of pulling off this type of operation. It's scary."
An organised crime syndicate is suspected of having tampered with the chip and pin machines, either during the manufacturing process at a factory in China, or shortly after they came off the production line.
In what is known as a "supply chain attack", criminals managed to bypass security measures and doctor the devices before they were dispatched from the factories where they were made.