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Comment by feint | Hacker News Reader

There's really no issue. If your card is stolen and fraudulent charges made the bank will reverse them. Having used chip payments for years now, I couldn't imagine living without them.

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What if the card is stolen alongside your pin? Will the charges not be reversed because the pin was stolen?

The only way for a PIN to be stolen is if you wrote it on the card, or if it was forced out of you e.g. at gunpoint.

The latter is incredibly rare. The former is your own fault. That's why generally if a PIN was provided the liability is on the card holder.

While this doesn't invalidate your point, I've seen recordings of people being coerced to give up their pin by someone acting like they are being helpful in getting an ATM to work. The guy of course has a skimmer and gets it later.

Card skimmers.

Card Skimmers will only copy track1 and track2 of the magnetic strip. In order to get the pin you need an additional piece of equipment that records the pinpad, such as a well placed camera.

Many skimming devices do both... They even capture the CCV.

Yes. The whole point of FDIC insurance is that you will be reimbursed for any sort of theft. Even pin + card.

No. And FDIC insurance has nothing to do with this. Most banks will in fact try to hold you fully liable for fraudulent transactions if your stolen card was used with its PIN. Their rationale is that if you gave your PIN to an unauthorized person, or used a weak PIN, or wrote it down and got the piece of paper stolen, then you should be liable. See for example: "If your Password or PIN is used in such a transaction, you will be liable for the full debt" http://www.scotiabank.com/ca/common/pdf/borrowing/revolving_...

No, FDIC insurance is insurance against bank insolvency not theft.

The pin is not on the card. You're responsible yourself for keeping it safe.

If you use Apple Pay there can be no fraud by hacking the retailer since Apple does not give the retailer your CC number but rather a token. Apple Pay is very quick and convenient and secure.

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