

Banking, Finance & Insurance - BANK OFFICER

Activities:
Research
task - Understanding chip and PIN
Could
"AI" do a better job at being a bank teller than most current staff?
What
is Money Laundering? How does it effect Australian banks?: Cornell
Note-taking Method & Analysis
Credit
Terms: Mindmap
Website
Critical Thinking Spot
 
Research
task - Understanding chip and PIN
(some ideas from Reuban West,
was an ACU
Education student)
Secondary
Australian
Curriculum General Capability:
Numeracy
Australian
Curriculum General Capability:
Critical and creative thinking
Australian
Curriculum General Capability:
Personal and social capability
Australian
Curriculum General Capability:
Literacy
1.
The following article is a negative critque on banks usage on Chip and PIN
security when using cards in today's world:
Chip and PIN security: The Conversation 30 March 2015


Check out the author - Steven J. Murdoch's credentials!
What about his blog: Bentham's Gaze

Discuss with a partner about Steven's interests as shown
in his blog - is he credible?
2. Read the article and note down all the statistics and
numeracy facts within the article.
3. There are three questions posed within the article:
-
So why are some banks issuing chip cards which
don’t support PIN verification at all, leaving customers to sign for
transactions instead?
-
Why has the US been so slow to roll out Chip and
PIN, and,
-
Why have UK banks
actually decreased security for contactless cards?
Is this down to one answer: profit as the author
proclaims? Is this cynical on the part of the author or the reality?
4. Scenario: You are the bank officer of a major user of
the PIN and chip system for cards. You are to defend your bank on it’s usage
of this system and conduct a thorough response to the article.
This will require you to research all aspects of the PIN
and Chip system from the following sites. As this is a professional
response, you must not insult the writer of the article or disregard their
argument as their article, like your response, is well researched.
Resources:
Reference.com: What are the advantages and disadvantages of chip readers
and PIN pads?
Chip and SPIN!
EMV smartcards offer security benefits even without PIN, Visa says
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