Short Bytes: EMV credit cards have till now been assumed to be unhackable. The security professor from the University of California explains how it is NOT so.With the advancing technology and due time has given anything and everything can be hacked. We have already seen some of such events like the car-hacking, whole corporates brought down by the attackers, and revelations by the ex-NSA contractor that your smartphone can be hacked with just one SMS makes security a serious issue in the contemporary world.
Now, the latest buzz is that even the new EMV (Europay, MasterCard, and Visa) credit card verification chip system that was supposedly promised by these companies to be unhackable has been exposed. The EMV cards have inbuilt microprocessor chips that give it a double layered security. It works analogous to the two-factor authentication, generating a unique code each time you use your credit card rendering it almost impossible for the hacker to steal your information. Well, almost…
Professor Ross Anderson from the Computer Laboratory at the University of Cambridge explains in this video how the black-hats compromise the Chip & Pin system to gain access to the sensitive information.
Watch the video below:
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