Done a little scratching around on this one...
Chip and Pin system flawed - new card fraud risk - Which? News "Which?" are, apparently, the source of the figures.
You would be astonished Mike if you were to learn the things which are common knowledge in journalistic circles yet, for one reason or another, are largely unreported to the public. The Media in this country is far from free or open; and it takes a certain 'critical mass' of journalistic will for a story to be broken... And even then; careers have been effectively ended when the greater will has been to discredit an honest expose and the people behind it.
In this case a lack of
reportable research is what keeps things under wraps. That and pressure brought to bear on journalists. This can range from company agenda burying a story to individuals facing (from banks for instance) ratejacking on a spectacular scale or otherwise paying 'funny buggers' with a person's finances...
Contrary to popular belief most journalists
aren't earning six figure salaries and don't have much in the way of job security. Many freelance, and have to worry about where their next story is coming from; they can't afford to be 'blackballed'. They also generally have houses, partners, kids and cars to keep fed financially; thus many a hack exists in a place where there is a very tight grasp on on the old short and curlies...
It's the same right the way though the media. You should read some of Greg Philo's work on the subject. And scratch around a little to try and find out why we've not seen much of David Bellamy on TV lately... The man has been 'frozen out' because he won't tow the party line..
"Which?" (in journalistic terms) are in an enviable position as they have no advertisers to cow tow to. Ask yourself how much advertising comes from credit card companies and you'll get some way to realising why this isn't widely reported...
PIN protection of cards has NEVER been effective! And the banks' attitude has always been just plain dishonest...
I recall one incident around 25 years ago. I had withdrawn money to buy lunch from an Midland ATM just off Euston Road at around noon one day. At 12:20 another withdrawal was made ...From the Clydesdale ATM in St Enoch's Square!
Took three months and quite a few phone calls from ITN researchers before the Clydesdale finally admitted that
of course it was physically impossible for me to travel from central London to central Glasgow in 20 minutes!
And that WAS the position being taken by the Clydesdale bank ! Their system was infallible! I was being stonewalled and accused not only of fraud (the bank manager at the Clydesdale branch called me a liar to my face!) but making this absurd impossible journey!
It's something I've always been VERY careful about but still I've had problems with many times; to the point where I try to avoid ATMs and have a second bank account with only a very small amount of money kept in it... It's the card
for that account that I carry in case I need cash; and even if I needed access to a larger amount I'd transfer money from my main account into it. That way a fraudster getting access to that acount has nothing much to grab...
The one-in-seven figures don't surprise me in the least; but then I'm just going with personal and anecdotal evidence....
