A gang of four Londoners have been jailed for a Chip-and-PIN fraud operation which netted £725,000.
The BBC reported on Monday that Theogenes De Montford, the ring-leader, was given four and a half years, while Rajakumar Thevathasan, Rashid Hassan, and Usman Mahmood each received three and a half year jail sentences at Southwark Crown Court.
The gang had modified Chip-and-PIN devices to allow them to capture card information and personal identification numbers. They burnt a hole in the back of the readers, and installed memory devices and Bluetooth, to steal the data.
De Montford was a software engineering graduate, said the BBC.
A number of proof of concept Chip-and-PIN cracks have been demonstrated by academics. Researchers from Cambridge University in February demonstrated that Chip-and-PIN readers can be tricked into accepting transactions without a valid personal identification number.