ATM Cards Misuse
Due to increased illegal copies of cards with a magnetic stripe, the European Payments Council established a Card Fraud Prevention Task Force in 2003 that spawned a commitment to migrate all ATMs and POS applications to use a chip-and-PIN solution until the end of 2010. The "SEPA for Cards" has completely removed the magnetic stripe requirement from the former Maestro debit cards, and the savings banks have announced that they will ship their debit cards without a magnetic stripe beginning in 2012, making them unuseable in any ATM or merchant that is only capable of reading a magnetic stripe card.
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Famous quotes containing the words cards and/or misuse:
“The world is a puzzling place today. All these banks sending us credit cards, with our names on them. Well, we didn’t order any credit cards! We don’t spend what we don’t have. So we just cut them in half and throw them out, just as soon as we open them in the mail. Imagine a bank sending credit cards to two ladies over a hundred years old! What are those folks thinking?”
—Sarah Louise Delany (b. 1889)
“Almost all scholarly research carries practical and political implications. Better that we should spell these out ourselves than leave that task to people with a vested interest in stressing only some of the implications and falsifying others. The idea that academics should remain “above the fray” only gives ideologues license to misuse our work.”
—Stephanie Coontz (b. 1944)