KUALA LUMPUR: Bank Negara said recent media postings on electronic pick-pocketing on individuals with contactless cards were not true. In a statement, Bank Negara said contactless cards were equipped with safety features that made them a secure mode of payment. “Since 2005, all payment cards in Malaysia have adopted Europay, Mastercard and Visa (EMV) chip card technology which prevents the cloning of cards. “To date, there are no cases of cloned EMV chip cards being reported,” it said. The central bank said contactless cards have an embedded EMV chip with advanced cryptographic security that generated a dynamic code for each transaction.

Source: The Star January 18, 2017 23:00 UTC