LAS VEGAS. While EMV chip-based credit cards do provide more security than traditional magnetic stripe cards, there are still risks. Multiple presentations at the Black Hat USA conference here detailed risks, including one from Nir Valtman, head of Application Security for NCR Corporation, and Patrick Watson, Application Security architect at NCR.
In a press conference the two researchers provided media with a synopsis of their research, as well as a demonstration of how the attack works. At a high level the NCR researchers relied on using a man-in-the- middle attack that intercepted traffic to and from the PIN pad in order to exploit the system.
While the attack does have risks, Valtman noted that using proper tokenized encryption is the right solution to limit the attack surface.
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Sean Michael Kerner is a senior editor at eSecurityPlanet and InternetNews.com. Follow him on Twitter @TechJournalist