Re: Funny Stuff
1) Biometrics, although they have their own risks. Various other options have been looked at over time, but banks also like something cheap. This removes some options. I think some people would disagree that PINs are easy to remember.
2) This is partially a case of damn statistics. Reported card fraud is partially going down due to banks pretty much not accepting anything as fraud if the PIN is entered unless you can absolutely and categorically prove it couldn't be you. They're using the old cashpoint excuse of right PIN entered, therefore it has to be you!! So, fraud isn't declining by as much as they make out. They're partially at least, manipulating the figures.
3) Theoretically true, but easily got round. The bank simply shows the PIN was used and therefore it's your fault!! Simple as that. If you were skimmed at a cashpoint and the PIN recorded (say by camera), most banks will claim future withdrawals etc. were you regardless. Of course, they have cameras on the ATMs etc. themselves, but you can't get to that footage without their permission.......sort of chicken and egg.
4) People not checking the card has always been an issue, but is worse now because chip and PIN supposedly sorts everything!! It's always been a fault of human nature. The more 'foolproof' something is claimed to be, the less people check it!! I remember working on a checkout in the school holidays etc. (yes, some time ago) and catching fake/stolen etc. cards was a money maker. £50 each. Result.
5) I have worked for banks in the past and I can assure you part of the point of chip and PIN is to make the retailer or cardholder liable for the fraud. Always has been. Not to say that chip and PIN doesn't help, but if that wasn't the case, why have the fraud rules changed since chip and PIN? In theory, if the retailer touches your card during the transaction, they've taken liability from the bank!! The whole point of chip and PIN (and strict interpretation of the rules), is that the only person who touches the card should be the cardholder. Where does this happen? I'm not saying it is a total conspiracy, but the banks have their agenda as well.