[R]esearchers at the University of Cambridge, have shown how to compromise supposedly tamper-proof Chip and PIN terminals. With a paperclip, off the shelf electronics, and basic technical skills, fraudsters can capture card details and PINs, then create counterfeit cards. The full results of the team are published their academic paper and were featured on BBC Newsnight (Google Video).
[hat tip: Cory Doctorow]
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