PIN cards to be replaced in security upgrade
24 May 2006, AMSTERDAM — All PIN cards in the Netherlands are to be replaced by a new type of debit card that will eliminate 'skimming fraud'.
24 May 2006
AMSTERDAM — All PIN cards in the Netherlands are to be replaced by a new type of debit card that will eliminate 'skimming fraud'.
Although safer and more convenient than carrying around large amounts of cash, PIN cards have been targeted by criminal gangs who copy the details to get access to the holders' accounts.
The magnetic strip which holds the bank account details is being replaced with a microchip to cut down on this type of fraud, Currence, the maker of Pin cards in the Netherlands, said on Wednesday.
The changeover to the new technology begins this summer. New cards issued by banks to replace cards past their validity date will have the chip. The process is expected to be completed by 2013.
In recent months there have been numerous reports of individuals and businesses falling victim to skimming. One gang used bogus technicians to replace card readers in shops with doctored versions altered to store the skimmed data. Hidden cameras have also been placed in shops during burglaries to record customers as they type in their PIN number.
But Currence said skimming only takes place on a limited scale in the Netherlands. The cards are also being updated to conform to international standards.
[Copyright Expatica News + ANP 2006]
Subject: Dutch news