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this session is how smart card payment systems fail um presented by Professor Ross Anderson he is a uh professor of security engineering at Cambridge University and author of security engineering so thank you and uh please enjoy the briefings thanks so Americaamp;#39;s in for a big change in how you pay for stuff um since the 1960s people have been using credit cards based on magnetic strip and starting round about now the banks are starting to introduce credit cards which are based on chips instead now weamp;#39;ve been using these in the UK for 11 years now and um we got quite a lot of experience of how they break we started off at the beginning figuring out that we understood what the likely shortcuts were that had been taken in design and we thought we knew what the fraud would be but reality turned out to be rather different and over the past Dozen Years my team and I have been monitoring this um weamp;#39;ve picked up and investigated quite a number of um rather ingenious hack