Researchers Expose New Credit Card Fraud Risk

An anonymous reader writes "Researchers from the University of Cambridge have discovered flaws in the card payment systems used by millions of customers worldwide. Ross Anderson, Saar Drimer, and Steven Murdoch demonstrated how a simple paper clip can be used to capture account numbers and PINs from so-called 'tamper-proof' equipment. In their paper (PDF), they warn how with a little technical skill and off-the-shelf electronics, fraudsters could empty customers' accounts. British television featured a demonstration of the attack on BBC Newsnight."

Damn you Clippy!

[techpawn]

Damn you to hell!

Paper clip?

[evil agent]

Ross Anderson, Saar Drimer, and Steven Murdoch demonstrated how a simple paper clip can be used to capture account numbers and PINs

Hmm, Macgyver must have tipped them off.

Re:Damn you Clippy!

[holyspidoo]

"It looks like you're entering your secret PIN. Would you like help?"

I never should have said yes...

MacGyver

[j4s0n]

How far you've fallen...

Re:They're looking in the wrong place

[Fnord666]

but the problem is that it has to be simple enough for idiots to use.

Even then someone will just build a better idiot.

Clippy? Is that you?

[bryny]

It looks like you are trying to crack an account. Would you like help?

Re:Tough Interview

[ettlz]

Jeremy Paxman is famed for being incredibly tough on his witnesses (and contestants on University Challenge)

Yes, but did you threaten to overrule him?

Re:I can build an atomic weapon with a paper clip

[Jarjarthejedi]

Macguyver wouldn't need the other stuff...just some gum. And you call yourself a nerd...shameful

Re:Most will for large-ticket items

[Dogtanian]

While it's true they don't have to do business with you, most stores will accept a $50 rather than lose out on a $55 purchase. Ditto a $100 and lose out on a $101 purchase.

They're evidently not that keen. Last time I tried to make a $53 purchase with large-value bills, they refused.

The cheek of it- my $50 bills are as good as anyone else's! As was the $3 bill...