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    The article claims that the “Chip and PIN” systems in the UK is more secure and provides better protection for consumers, which after some research, I believe to be false. Since 2008, there have been at least three significant vulnerabilities discovered in the Chip and PIN system, all of which compromised cards:

    What’s worse, is that until 2009, consumers in the UK were liable for any transaction on their card. Banks, claiming that Chip and PIN was full-proof, refused to acknowledge that the system could be defeated. The US system’s weakness is offset by their strong consumer protection laws.

    Lastly, the Chip and PIN system is only for in-person purchases. Card-not-present purchases (CNP) are still a huge target for fraud, with our without Chip and PIN.

    For further reading, I’d suggest the following: