Chip and PIN – biggest UK retail project since decimalisation, but not enough on its own to defeat card fraud

Abstract The credit card industry's big idea for tackling fraud, chip and PIN, is being rolled out in earnest within the UK, but security experts warn that on its own it will merely divert criminals to other channels. Chip and PIN does nothing to address cardholder not present (CNP) fraud, notably for online purchases over the Internet, and still leaves the door open for fraudulent transactions from identify theft.