Cardholders reveal sensitive chip and PIN card details most often in order to allow someone else to make a purchase on their behalf or withdraw money from an ATM for them. The study has indicated that cardholders are most likely to share their PINs with their spouse or partner, however some survey respondents have revealed their PINs to their children (20 percent), their parents (17 percent) or their friends (15 percent).
Moreover, 34 percent of interviewees have revealed that they have been asked to carry out purchases or withdraw money someone else’s behalf.
According to experts from the company which carried out the survey, sharing PINs undermines the security of the chip and PIN infrastructure, in addition to exposing cardholders to severe security risks. Merchants in their turn were also revealed to display a negligent attitude, as 98 percent of respondents who admitted to using someone else’s card also claim they were not caught in the process of doing so.
The survey was conducted by UK home insurance company LV=.
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