Originally Posted by
JEFFJAGUAR
The banks have become much more capable of spotting suspicious transactions although admittedly this sometimes leads to perfectly legitimate transactions being flagged; the price I suppose we have to pay but that has nothing to do with emv or pin or whatever.
Originally Posted by
tmiw
I think we can get close to zero fraud in the card present space but every party definitely needs to take advantage of the available tools.
The only time I've had a call from my card issuer (Barclaycard UK) was when I tried buying something that cost £430 online.
They told me that as far as their risk assessment is concerned, any transaction with a PIN is likely to be genuine, so they'll never bother cardholders - even abroad.
That is what I want - a bank that believes in the security it uses.
Originally Posted by
joshwex90
Can someone explain to me the fear of PIN in terms of fraud?
Assuming charges were authorized not by you, then you say fraud. If it's a lost/stolen card, I don't see why it's hard to get the PIN. Security cameras, keyboard skimmers, shoulder peeping, heck, even holding someone at gunpoint for their credit card AND PIN (which does happen with debit cards occasionally).
Or are we not talking about fraud but rather other types of disputes?
I think that the ship has sailed on this actually being a threat. It's not possible for issuers to claim that PINs can only be misused through cardholder negligence.