another random user (2645241) writes "A vulnerability in the widely used chip and pin payment system has been exposed by Cambridge University researchers.
Cards were found to be open to a form of cloning, despite past assurances from banks that chip and pin could not be compromised.
In a statement given to the BBC, a spokeswoman for the UK's Financial Fraud Action group said: "We've never claimed that chip and pin is 100% secure and the industry has successfully adopted a multi-layered approach to detecting any newly-identified types of fraud." "
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