Chip-and-PIN cards let nearby fraudsters steal $1M at a time

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Visa’s new Paywave chip-and-PIN credit-cards have a $1M limit on foreign-currency transactions that can be verified “in-card, ” meaning that someone who gets close enough to your UK wallet can simply wave a phone at it and charge a megabuck to it without raising any realtime security alerts. Read the rest

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Chip-and-PIN cards let nearby fraudsters steal $1M at a time

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