Alexander Falev
CEO, ROSGOSSTRAKH BANK
It is quite simple to read information from the magnetic strip, which is why the fraud in this area is now so common. The chip cards are much better protected against unauthorized access to data than magnetic stripe cards. The cases of falsification of chip are unknown today and to read information from the chip card in the ATM in the same manner as with the magnetic stripe card, it is practically impossible.
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Irina Simakova
Deputy CEO, OJSC Pervobank
Of course, the risks associated with conducting transaction on the cards with a chip are lower - this card is more difficult to fake, when it is used for calculations in the trade and service transactions, and as a rule, you need to enter the PIN. Moreover, with this card easier to challenge the unauthorized transaction and get a refund from the payment system. But at the same time it should be remembered that the risk to face the fraud depends on the cardholders themselves, on how much they follow the recommendations for the safe use of cards.
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Denis Khrenov
Senior Vice-President, Intercommerce Bank
Chip avoid losses when someone is trying to fraudulent transactions in situations where there is "the rule of delegation of responsibility", respectively, the regions of Southeast Asia and the Americas are still open to fraudulent transactions. Here it is necessary to seek for other methods of protection. Also, the chip does not protect from the operations performed on the Internet, the bank must use the on-line verification protocols with dynamic passwords.
It is important to remember that it is impossible to protect the chip from unreasonable behaviour, when the customers stick the PIN on the card or share it with the friends or colleagues, which is unacceptable.
We can say that our bank will use all available security methods. Moreover, we insure the risks of fraud in relation to our customers and, in spite of that we consider that the basic rule is the need to treat the funds on the card as carefully as the cash. We assume that the card is a unique payment tool that can significantly and if treated carefully - minimize (reduce) the risk of losing money to zero.
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