The chip and PIN payment card system - or EMV - is considered to be more secure than the magnetic strip one, but it's also not bulletproof.
Kaspersky Lab performed a forensic investigation into cybercriminal attacks targeting multiple ATMs around the world.
The Financial Services Information Sharing and Analysis Center (FS-ISAC), an organization focused on sharing critical cyber security threat information worldwide, and The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, announced the formation of a strategic joint venture to develop and market automation solutions that advance cyber security capabilities and the resilience of critical infrastructure organizations, including financial services firms and others worldwide.
The number of US banks that have apparently been targeted and breached by hackers is slowly rising, as newer reports say that seven financial organizations have been hit.
The massive breach that Target suffered late last year was the proverbial straw that broke the camel's back and made the company decide to move to chip-and-PIN card technology.