Comments on: Once again, it’s “PIN fraud” not “chip and PIN fraud”

By: Anonymous1

Anonymous1 — Fri, 29 Feb 2008 06:47:35 +0000

“So, on balance, Sandra wins!”
Astounding statement, unless this is just sympathy at being tortured on national TV. So you have checked 3 out of how many card issuers?

By: Dave Birch

Dave Birch — Wed, 27 Feb 2008 16:41:11 +0000

“The iCVV varies from CVV by replacing the Service Code with 999 instead of the actual value when deriving the code.”
You are correct. I should have checked this before I posted rather than going from a faint memory.

By: Chipcards

Chipcards — Wed, 27 Feb 2008 15:39:56 +0000

Small corrections
> iCVV has been introduced from 1st January 2008
Actually it was available from the very beginning of EMV migration however it was not (widely) used by the banks and was not mandated by payment systems. The question is why?
>The ICVV varies from CVV by replacing the PAN Sequence Number with 99 instead of the actual value when deriving the code.
Should be replaced with
The iCVV varies from CVV by replacing the Service Code with 999 instead of the actual value when deriving the code.
The actual algorithm doesn’t matter as the point is to have magnetic stripe image on chip different from magnetic stripe.
iCVV doesn’t solve the problem of skimming of course but it makes it impossible to steal track data without cashier’s assistance (if magstripe reader is separate from chip reader as they usually are in attendant terminals)

By: Roger

Roger — Wed, 27 Feb 2008 14:24:02 +0000

Reports on fraud show that the government and banks should realise that their data protection and Chip and PIN systems are failing to deter fraudsters.
This shows that fraud will continue to grow until they exploit ID KEY system described on website http://www.xwave.co.uk to make signature and PIN systems reliable and foolproof.
Fake documents have made our signature system unreliable while skimmers and pin-hole cameras etc. have made PIN system unreliable. We have option to make signatures reliable by personalising them with ID stickers and option to use Card Key Code to make PIN system reliable to make use of stolen and skimmed cards meaningless. By ignoring to exploit this system banks are only letting fraud crimes grow.
ID KEY system will eliminate the need for us to protect our personal and card details since fraudsters will be deterred from misusing these stolen details.
Proposed ID KEY can be treated as a reliable international ID card because it will personalise signature and PIN number to only the right individuals in any country.