Blog Post 3/3/2017: Current Event #3

Name: Litany Green
Date: 3/3/2017
Name of article: US ATM fraud surges despite EMV
Source of article: Source
Introduction:
Analytic software firm FICO found that EMV chips are not as effective on preventing fraud as we all originally thought. The EMV chip that is in most cards belonging to Mastercard, Visa, and Europay, are not showing signs that they are any better at fraud protection than the original design of cards. Number of physical cards compromised last year rose 70%. The only thing postivive that came from the EMV chips is that the compromised cards are being discovered and fixed faster than before. The chip is not necessarily safer than the cards without in the conventional sense, but the time it takes to recover from fraud was cut by a third because of the chip. An interesting fact that I found in the article was that "Compromises of ATMs and merchant devices in the US rose 30 percent, following a six-fold (546 per cent) increase from 2014 to 2015." It relates to emerging technologies because it is a good example of how new technologies do not always work the way they are intended. It takes time and testing to make new technology be effective.