Why oh, why are banks still processing transactions with easyclone™ magnetic stripe cards when every European bank card has an EMV chip ?
ATMs can all read chips, since they can process the pin change and unlock functions, so why are they capable of accepting skimmed cards?!
The banks should be able to encode cards so that the ATM knows it should be seeing a chip and refuse to process magstripe transactions ?
I know a few primitive places like the U.S. still insist on using magstripe for hysterical or religious reasons or because it's a dangerous alien Euro technology that wasn't invented there but, why are European banks not using the technology they heavily invested in rolling out ?!?
The only explanation I can come to is the banks just don't care because they've a big slush fund of our money so basic security doesn't matter to them.
It's scary to think that my Facebook, Twitter and email accounts have far more sophisticated security than my bank accounts - protected by a 4 digit pin and a magstripe card in 2015....