Did you ever experience a situation of receiving a text message of debt for the purchase of things you actually didn’t purchase? Just imagine what could have you felt at the time when you can only make a bank call to deactivate your ATM card, whereas theft has occurred through the use of your ATM card at shopping malls, which is reported you later.
Yes, such incidents often happen, and the culprits can be tracked out as technology has made it possible.
Such thefts are not possible in banks, as, ATM fixed machines in banks have one-factor authentication of an ATM card to protect the owner from a misuse of his card.
But in the shopping malls, misuse of a lost ATM card is very easy, because, in the shopping malls, mobile arenas, appliances markets, and Marts micro ATM devices are used for shopping. Anybody can purchase a product by paying from the ATM card to the device operator because no any code is required there.
In return, without bothering about the owner of the card, the device operator will issue a slip keeping one copy of the bill and purchased products’ list for his shop and another one to the buyer. The process makes easy use of stolen ATM cards be these micro shopping ATM machines.
To mandate purchase system, proactive measures are required. Re-engineering of ATM system to leave no way to use the stolen ATM cards in shopping malls.
A simple and quick solution, being suggested for this systematic gap is the introduction of four-digit PIN code for ATM card users while they shop availing ATM devices.