Is EMV the magic answer to stopping cyber financial crime. Nope...not even close. But it will help in the equation of working towards a proactive anti-theft strategy for the financial industry.
Online security requires a comprehensive overall risk management strategy for both your physical and IT environments. Security is a minute by minute, hourly, daily, weekly, monthly quarterly process to maintain and stay ahead of the Criminal Mind.
Educating every staff member within an organization no matter the size on social engineering is critical. Social engineering is the weak link with employees. Also looking at eliminating what we call "minimum" wage and replacing it with a "Living" wage would help as well.
Employees cannot live on today's minimum wage. So if a criminal comes along and explains what a low paid employee will receive to help them with the cyber theft, its a good possibility those without solid ethics and integrity could be swayed to help. Especially without solid process and controls to catch them before it happens or after. Typically you would need inside help to switch out those POS terminals among the other multiple breach-able actions that can be under taken. Employees are are one of the biggest weaknesses in a security risk management strategy...
So take the initiative in your organization and ask where your security training is for all of your staff. It doesn't have to be expensive to begin the process of creating a security culture in your organization that will then seep back into your employees homes in regards to their own personal IT devices
Cyber terrorism is a real threat to our personal and national security. Everyone has to get on board and take responsibility for what they can do to get secured at home and at work. We can then become PROACTIVE with our security strategies and not continue with this REACTIVE oopsy wouldacouldashoulda response we are still seeing today!