Robbing the Bank with Automated Reasoning - Using Formal Methods for EMV Payment Protocol Security

Robbing the Bank with Automated Reasoning - Using Formal Methods for EMV Payment Protocol Security

Explore a fascinating case study on using formal methods for security in this 53-minute lecture by Prof. David Basin. Dive into the world of automated reasoning and discover how the Tamarin security protocol model checker can uncover serious vulnerabilities in EMV payment protocols. Learn about the international EMV standard used in over 9 billion payment cards worldwide and its complex 2,000-page specification. Understand how the formalization of a comprehensive EMV model in Tamarin led to the discovery of critical flaws, including an attack that allows high-value purchases without a PIN. Examine the importance of formal methods in critical protocols, the details of these attacks, and potential solutions for securing payment systems.