Chip & PIN is definitely broken presented at BlackhatUSA 2011

by Andrea Barisani, Daniele Bianco, Zac Franken, Adam ( Major Malfunction ) Laurie,

URL : https://media.blackhat.com/bh-us-11/Laurie/BH_US_11_Laurie_Chip_Pin-Slides.pdf

Summary : Credit Card skimming and PIN harvesting in an EMV world. We analyze the practicality of credit card information skimming, cloning and PIN harvesting on Chip & PIN enabled POS terminals. We intentionally ignore Magstripe skimming (which is still effective and widely used) and focus on the chip interface.