Credit cards with magnetic stripes are prone to cloning. Around the world, there is a great push for all credit/debit cards to be issued with EMV chip. The problem posted in this article will be greatly reduced when credit cards are replaced with EMV chip type. This will take time but it will happen. By then, will the criminals be smart enough to hack and copy the EMVchips just like the way they clone the magstripes?
Click to continue reading “EFTPOS scam costs Australians $80m”