<p>As the United States prepares to move to a chip-and-pin model for credit card transactions, Europe has been happily using the generally more secure method of in-person transactions for years. But it was only a matter of time before some really serious issues were discovered in the European approach.<br /></p><p>As shown today on German news program Tagesschau, researchers in an upcoming talk at the Chaos Communication Congress later this month will detail an array of vulnerabilities and shoddy design choices with payment terminals (the devices consumers insert their cards into before typing a four-digit PIN) used in Europe. These allow a hacker to steal a victim's PIN code and magnetic strip from their card, and even pose as any terminal and send funds to any bank account in Germany. There are also concerns that the vulnerabilities could affect systems in other European countries.
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