From: Jethro 
Newsgroups: uk.finance uk.legal
Subject: Re: Petrol Station rip off
Date: 23 Apr 2007 02:20:43 -0700
   posting-account=Ru8ZGQwAAAAgQieqVQ772UijJNIqR6CM

On 22 Apr, 16:50, norm  wrote:
> The recently exposed 'Sri Lankan' card scam seems to involve someone
> scanning the magnetic strip and using a pin entry keyboard that has
> been tampered with to get the pin.
>
> I understand that there is a complex authentication and encryption
> process between the chip on the card and the combined card-reader and
> keypad which should mean that duplication or reading of the chip's
> data is rather more difficult.
>
> I therefore believe that I can greatly increase the security of any
> transaction by wiping a damn great magnet over the magnetic strip on
> my card, thereby destroying the data contained on it.
>
> I would in future tell any retailer where a transaction relied on the
> presence of the magnetic strip to get stuffed.
>
> Discuss.

Slightly OT, but in Spain recently, you have to enter your PIN *and*
sign. As one retailer told me - no signature, and he won't get the
payment.

So there PIN *supplements* signatures, not replaces it.