Cash card date theft costs €31m

Monday 18 May 2009

Dutch banks suffered a €31m loss last year because of cash machine card skimming, various newspapers report on Monday.

Card data theft through manipulated cash machines accounted for 0.023 percent of the banks’ transactions for that year which totalled €136bn.

Banks and retail organisations are considering the introduction of a safer card, replacing the current magnetic strip with a fraud resistant chip. The scheme was originally planned for 2013 but may be introduced at an earlier date.

© DutchNews.nl

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