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Feud heats up over chip cards, FBI warning

Matt Hamblen | Oct. 15, 2015
Retail attorney says FBI watered down chip card warning, claims banks play 'fast and loose' with security by not backing PINs.

Duncan also criticized the FBI for altering the fraud warning to water down references to PIN technology, contrary to a year-old presidential order affecting federal government payments. "It's interesting that their revised statement ignores the executive order from President Obama to issue new chip cards with PINs," he said.

Duncan referred to an executive order signed by Obama on Oct. 17, 2014, directing executive departments and federal agencies to transition payment processing terminals and credit, debit and other payment cards to "employ enhanced security features, including chip-and-PIN technology."

 

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