Criminals exploited flaws related to EMV security protocols to commit as much as 600,000 euros ($656,000) in fraud in 2011. Payment card issuers and industry representatives contend that the related vulnerability has been successfully mitigated and note that no successful copycat attacks have ever been seen. Visa spokeswoman: “This was an isolated incident, and in the five years since it occurred, worldwide improvements in telecommunications and the resulting decline in ‘offline’ transactions have been effective in mitigating against this issue””]
Source: https://www.govinfosecurity.com/blogs/emv-flaw-still-at-large-p-2022