Playing catch-up in Australia

Outdated banking technology has made Australia a prime target for international ATM skimming gangs, according to police.

Tens of millions of dollars are lost in Australia each year as a result of card skimming.

The problem is that Australia is still using magnetic strips, rather than the ‘chip and PIN’ technology in other countries, and according to federal police the chip-and-pin system is long over due in Australia.

Source: Big Pond News.

This small article seems particularly appropriate today, as I cannot remember any day in which I have seen so many ATM skimming stories in the news from around the world.

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