Toolkit

Story: Shell's £1m chip and PIN fraud 'an inside job'

Posted by: Anonymous (Friday 12 May 2006, 1:37 PM)

I have just had my credit card cloned and £600 stolen! On April 26th the chip and PIN machine was stolen from my local Shell petrol station counter in the Bath road in Speen, Newbury.

Apparently someonen has designed chip and pin machines in such a way that theycan be made to store all the customers card details AND you’re PIN in such a way that a criminal can extract them and clone a card and use it to empty your account if they steal the chip and pin machine!

I discovered this last night after reading an article in the Newbury Weekly News (11May 2006). I checked my account and £600 has been withdrawn from ATM’s in London over the last 3 days. (I have not been to London since Last Friday)

Shell is quoted as saying "Shell's chip-and-pin solution is fully accredited and complies with all relevant industry standards.”

If this is the case then surely there are other C+P systems, which are vulnerable? If the Shell system was accredited then surely the accreditation system is flawed and hence potentially all Chip and pin systems are flawed?

I believe the entire system should be audited by an external authority to find out what has gone wrong, and how many flawed systems are out there.