From: Ronald Raygun 
Subject: Re: Times: Fraud victims left in the lurch by banks
Newsgroups: uk.finance
Date: Mon, 16 Jan 2006 23:59:27 GMT

Alex wrote:

> At 23:09:39 on 16/01/2006, Ronald Raygun delighted uk.finance by
> announcing:
>> john boyle wrote:
>> 
>> > The majority of card fraud is cloning.
>> 
>> Then, if it's the chip which provides the clone-proofing, why push C&P
>> so aggressively when C&S solves that particular problem?
> 
> Because the chip has no possible way of verifying your signature.

It doesn't need to.  The checkout chick can do that.

> It can,
> however, verify your PIN.  This means that instead of providing card AND
> cardholder authentication, only the card can be authenticated.

But if your main enemy is cloning, then card authentication is the main
job to sort out, cardholder authentication is already satisfactorily
dealt with by well-established signature technology.