Does chip and PIN change my liability for any fraud committed on my card?

All consumers will remain protected from the cost of card fraud, providing there has been no sign of negligence.

Chip and PIN has already made major reductions in two of the most common types of card fraud – “lost and stolen” and “counterfeit”, so you were up to a third less likely to have been a victim of these types of fraud in 2005 and even less likely in 2006.

Credit and debit card fraud is a big issue. It has increased by more than 30 per cent a year in the UK and more than £504 million of fraud was committed on UK cards in 2004, but since it's inctuction, card fraud has been cut 13%.

A fraudulent transaction occurs every 8 seconds. The measures put in by Chip and Pin will ensure better safety and take away the hassle and inconvenience of card fraud.