Bank Negara: Chip cards are foolproof

True enough, after I've blogged about the misleading article in the Star on cloned microchip credit cards, Bank Negara issued a statement yesterday stating that the fraudulent transactions involved the magnetic stripes and not the EMV chips.

"A recent news report that microchip for credit cards has been cloned is incorrect and misleading. The fraudulent credit card transaction involved the use of magnetic stripe of the cloned credit card. No Europay-Mastercard-Visa (EMV) chip credit cards have been cloned. Bank Negara Malaysia would like to inform that the EMV chip credit card security feature adopted by banking institutions are very secure."

I hope the Star will avoid having such misleading headlines in the future. I personally felt shocked when I read the headlines. But after reading the contents, I felt relieved as I was sure that it was just a misleading article.