Banks 'should offer more protection to debit card holders'

Wednesday 23 November 2011

Article by Mozo

Banks should be doing more to protect customers using their debit cards at ATM machines, it has been claimed.

Banks 'should offer more protection to debit card holders'

New South Wales attorney general Greg Smith told the Daily Telegraph that many Aussies are being placed unnecessarily at risk of fraudulent activity because security around cash machines is often poor.

He believes emerging technology provided by the likes of the University of Technology Sydney is helping to beef up protection when Aussies are withdrawing money, but more still needs to be done.

"The banks are making record profits, fewer tellers and all of that, but they expect you to take the risk, in a sense, of exposing yourself to robbery or to fraud," he was reported as saying.

However, Mr Smith did concede that some banks have taken measures to cut ATM crime, by placing their machines inside, rather than in an exterior wall.

Global Industry Analysts recently predicted that 3.9 million ATMs will be in place across the world by 2017.

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