NRF and FBI Call for PINs for Chip-Based Credit Cards
The National Retail Federation (NRF) said it agreed with a warning from the FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN instead of a signature to minimize risk.
“What the FBI is saying is what the rest of the world already sees as common sense,” NRF Senior Vice President and General Counsel Mallory Duncan said. “It’s the right thing to do, and we hope the banks are listening. We are pushing the banks to use all of the security the new cards are capable of providing, not just half."