A Conversation between Host and Head of Financial Crime- IELTS Listening Sample Answer

IELTS Listening section consists of four sections with two conversations and two monologues. There is a total of forty questions in IELTS Listening. This sample is section four of IELTS Listening to A Conversation between Host and Head of Financial Crime.

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There are similar topics found in IELTS Listening practice papers. This section contains the following question type:

• No more than three words
• No more than two words/ a number

Topic: A Conversation between a programme host and the Head of Financial Crime at Lloyds TSB discussing the credit card fraud.

Audio Transcript

SECTION 4

(H=Host; F=Farrow)

H: Hello. In today’s programme we have invited Ken Farrow – Head of Financial Crime at Lioyds TSB to introduce some information about credit card fraud. Welcome Farrow.

F: Thanks Catherine.

H: Has a Chip and PIN given new chances for thieves to steal the details of our credit cards?

F: Maybe. In the past there has been typically 50,000 or 60,000 ATMs in the U.K when people’s PIN could be collected and now there’s hundreds of thousands of points of sale terminals. It’s a fraud where criminals capture details and then make a magnetic stripe card copy.

H: How easy is it to do this?

F: One way is to modify a terminal so that’s what’s been happening often in the past with cash machines – the same can be done for Chip and PIN terminals. The other way is to replace it with an entire counterfeit. There’ ve been incidences in America and in Europe with entire fake ATMs being set up. The last way is to set up a concealed camera; and have somebody using sleight of hand to swipe your card through another machine so that you don’t even need to modify the main machine.

H: If someone decided to set up a little device to modify one of these hand-held PIN pads, how easy would that be to do?

F: Usually it wouldn’t be technically too hard, you just need about a hundred pounds to prepare for some equipment and raw parts, but it would take some engineering time and effort. The terminals themselves have a function of tamper resistance. If you try to open the casing, the machines will shut down and make them inoperative, but there’s only so much they can do against a persistent attacker compared with an ATM. Well once a card is copied and the PIN is obtained, crooks can make a fake card and use the PIN to withdraw money.

H: Do all cash machines accept these cards in the U.K?

F: Cash machines in the U.K may not accept these cards but many machines abroad will.

H: Why?

F: It depends on our radar. We can obviously know what they are doing while criminals can’t break the Chip at the moment. Also what they are doing is to use the old method to skim the magnetic strips on the cards. However, they’ve realised that they cannot succeed in the U.K, so they go on to the continent and to other countries in the Far East and use them where ATMs are not secured for Chip use.

H: Right, so they can take the old style card and use it abroad and get the cash out more easily?

F: That’s right. There is a magnetic strip attached to the card for customers who are travelling.

H: So what are you doing about this increase of use in foreign cash machines of card that have been stolen here?

F: What we’re doing is to gradually extend our security blanket. That means we will monitor the card usage whether it’s in the U.K or abroad. If we feel there’s something wrong we will contact and confirm with the customer. We’re up against organized crime and organized crime is trying to get one step ahead of us and we’re trying to keep one step ahead of them.

H: Yes. How does security work in U.K. machines? Because sometimes fake card will work there as well, won’t they?

F: When a bank is looking at its arrangements, it has to balance up convenience to customers with security.

H: Yes. So what are you doing to make things more secure?

F: I think the Chip and PIN situation has really improved and if you look at the figures in fact hard fraud has dropped by 24% over the last period. I think you can say this programme has done well.

H: Yes. I can see the figures but there has been a huge amount of coverage in the press this week. Some banks have stopped using PINs – doesn’t that decrease the public trust in this new system? And some people even think the new system is designed for new fraud.

F: I don’t think so. I’m not going to comment on particular cases. What I would say is that usually the evidence of crime has always been with the old technology not with the new.

H: So new technology seems to be working well.

F: That’s right.

H: OK, thanks for your professional introduction. See you next time.

F: See you.

Questions 31-40
Questions 31-34
Complete the notes below.
Write NO MORE THAN THREE WORDS for each answer.

CREDIT CARD FRAUD

Criminals need a chip and 31_________________ to steal credit card’s details.

Methods of copying a magnetic stripe:

to 32_______________________

to use an entire counterfeit

to use a 33___________________

£100 for equipment and 34________________________

Answer 31: PIN

Explanation: The host says in the conversation that he has a Chip and PIN given new chances for thieves to steal the details of our credit cards.

Also, Check:

Answer 32: modify a terminal

Explanation: Farrow says in the conversation that One way is to modify a terminal so that’s what’s been happening often in the past with cash machines – the same can be done for Chip and PIN terminals.

Answer 33: concealed camera

Explanation: Farrow says in the conversation about the last way is to set up a concealed camera.

Answer 34: raw parts

Explanation: Farrow says in the conversation that it wouldn’t be technically too hard, you just need about a hundred pounds to prepare for some equipment and raw parts.

Questions 35-40
Complete the notes below.
Write NO MORE THAN TWO WORDS AND/OR A NUMBER for each answer.

The terminals have a function of 35_______________ to credit fraud

Professionals in the U.K. use 36________________ to monitor the cash machines.

A magnetic stripe on the credit card is designed for 37__________________ customers.

Most banks arrange a 38__________________ between convenience and security.

The fraud rate has fallen by 39_____________________.

Evidence indicates fraud has always related to 40________________________.

Answer 35: tamper resistance

Explanation: Farrow in the conversation talked about the terminals themselves have a function of tamper resistance.

Answer 36: radar

Explanation: Farrow in the conversation Cash machines in the U.K may not accept these cards but many machines abroad will as it depends on the radar.

Answer 37: travelling

Explanation: Farrow in the conversation that there is a magnetic strip attached to the card for customers who are travelling.

Answer 38: balance

Explanation: Farrow in the conversation talked about when a bank is looking at its arrangements, it has to balance up convenience to customers with security.

Answer 39: 24%

Explanation: Farrow in the conversation the figures in fact hard fraud has dropped by 24% over the last period.

Answer 40: old technology

Explanation: Farrow in the conversation the evidence of crime has always been with the old technology not with the new.