ISLAMABAD: Federal Investigation Agency (FIA) has suggested that the use of obsolete technology by banks for ATMs’ security makes them an easy target for theft through skimming.
ATM skimming is the theft of identity carried out through the use of devices known as skimmers. Thieves install these devices directly into the machine to steal personal information right from your card.
Two Chinese nationals, Zhong Xianming and Zhong Xianquan, were caught earlier this week for their alleged involvement in ATM skimming case. During the proceeding of the hearing, the prosecution stated that the skimmed information was being sent abroad for the conduct of international transactions over the wire. They also claimed finding more skimming devices as evidence following the information provided by the two accused. The magistrate then sent the two accused to prison on a 14-day judicial remand.
FIA investigated the case and found that the use of decades-old technology in ATMs and banks security systems resulted in the thefts. The agency has advised the State Bank of Pakistan (SBP) to ask banks to upgrade their ATMs and security software. FIA also suggested the banks to introduce biometric system for ATMs. An FIA official said,
