(I'd expect this question to be duplicate, but couldn't find any that matches the point)
It seems to me that the security of credit card transactions got worse by the switch from signing to chip usage. As is well known, nearly all providers in the US do not ask the PIN when paying (supposedly because Americans wouldn't be ble to remember a PIN), so the comparison to me is:
Before: If I lose the card, the finder needs to fake my signature (not too difficult, but not a freebie); if I mark the card with 'Check ID', there is a chance that he fails.
Now: If I lose the card, anyone can use it freely anywhere. No limits, zero risk of getting caught.
So we got a new system that is slower, and makes abusing lost / stolen cards easier?? Why?
I am aware that you can call the credit card company and report the card stolen, but that is not always as easy. When you are travelling, roaming can cost you easily 100 $ just while your call is in the wait line, and many 1-800 numbers are not even callable from outside the US. Anyway, that is not the point -
why would the industry burn money into a system that makes stealing and then quickly using credit cards easier?