Vulnerabilities, Fraud, and Misuse
Chip and PIN cards are not foolproof; several vulnerabilities have been found and demonstrated, and there have been large-scale instances of fraudulent exploitation. In many cases banks have been reluctant to accept that their systems could be at fault and have refused to refund victims of what is arguably fraud, although legislation introduced in November 2009 has improved victims' rights and put the onus on the banks to prove negligence or fraud by the cardholder. Vulnerabilities and fraud are discussed in depth in the main article.
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“Almost all scholarly research carries practical and political implications. Better that we should spell these out ourselves than leave that task to people with a vested interest in stressing only some of the implications and falsifying others. The idea that academics should remain “above the fray” only gives ideologues license to misuse our work.”
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