THEFT OF MONEY THRU ATM DEBIT CARDS.

For the past few weeks it is seen that unscrupulous men in this country & abroad have been swindling money stealthy from the Savings Accounts of Bank customers. It is informed in the press that these persons use skimmers to steal datas from ATM Cards and use them for stealing money from banks in India. The Banks in our country simply ask their customers to change their ATM Pin and keep quite. The RBI is quite silent about this matter as if it has no responsibility on this. This is quite shameful. Now only the Govt.of India, Min.of Finance has awakened from slumber and issued press release which have no relief to the Indian Nationals who deposited their hard earned money in PSU Banks and also Pvt.Banks.
The RBI introduced initially the ATM machines in order to reduce the work load of Bank cashiers and relieve them from the responsibility of money loss due to human mistakes of cashiers. But as the years go the banks asked the customers to deposit their cheques, cash for depositing, quick loans, and various transactions and also RBI resorted to introduce various restrictions like number of transactions, other bank Debit cards, charging for using Debit cards in the commercial establishments through them, etc. Many PSU banks established ATM BOOTHS in lonely places, without any security personal. These allowed the unscrupulous persons to fix such skimmers in the ATM machines either at bank vicinity or at secluded places. The banks do not directly handle the ATM machines to fill up the cash and make private agency (franchise) to fill up cash or cash. Moreover, the ATM machines are repaired by Agencies private repairing personals and there are lot of scope for these persons to fix skimmers. Apart from these, the Business house who use Debit Card swiping machines not only charge extra percentage, but also some unscrupulous shoppers steal away datas of Debit cards by fixing (or allowing others to fix) skimmers in their machines. Even though such big scandal has happened all over India, the RBI chief has not spelled out any word about preventing this kind of misuse and theft from banks under its control.
The RBI should 1)stop issuing compulsory ATM Debit cards for all customers of Banks. 2 ) Limit the Debit cards only for cash withdrawals by bank customers, 3) ask all banks to issue SMART CARDS to their customers (if they want it) who can charge their cards with limited amount they wish to be done ( say Rs.5000/- or 10000/- or 25000/-etc. as the case may be) so that these pre-paid cards could be used at various commercial establishments for purchases and the risk of stealing their cash is much limited instead of Debit cards (which is attached to S.B. accounts) enable the cyber criminals to steal away the entire bulk of savings from the bank SB accounts. The Banks, RBI and Govt. of India should not wash off their hands in this matter but take deterrent action with iron hand more  

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I think debit card is not compulsory. One can always return the card back to the bank or keep it at home without using. But then how many will not curse the bank for long queues, people will be afraid of pick pocketing at out side the bank. Every day we read news that people who have drawn large sum were followed right from the bank and were looted. If you want ease of transaction, you have to be careful (are you not careful while carrying money in pocket?). more  
Even 3D Secure PIN is manipulated. This is my personal experience. But a banker will never accept it. After the card holder is branded to be negligent, even without being investigated. It is for the card holder to investigate the crime. The duty of the bank is to reject any claim of fraud when a transaction is secure. Even the transaction details are not shared. From this, I realise that the card holder should therefore not use the card for third party transactions. But who is to caution that it is a third party transaction? Experience is the best teacher at a cost. Every bank makes a tall claim that an alert is issued upon every transaction. This is another ridiculous claim. After all, the customer is at the mercy of the bank as the debit is already made and the money secured from the client. But does that happen? The easiest way is to put the onus of establishing a crime on the card holder. He has to lodge a police complaint and follow it up. All this is the responsibility of the card holder, which one must remember before using a card. After having provided the details from the third party of the transaction, the bank still maintains that a third party transaction is not its responsibility. Alerting the card holder that it is a third party transaction prior to its transaction is not the responsibility of the bank. It is like having a cake and eating it too, for having provided the facility. The card holder is a fool for having accepted this facility. Having accepted a card, its holder has also accepted the liability of an "Alert" SMS, which may not be a very practical cause. The mobile lines being ineffcient or the card holder being pre-occupied with some personal work, does help the cause of the bank. After all the customer is being provided and is enjoying a costly facility at no additional cost to the bank, once such card is issued. more  
Go back to the old system of cheque book. A person with normal education finds it hard to land a 10000/-per month job.So it is not surprising that intelligent are opting for such means of earning. more  
If OTP is found to be cumbersome in addition to PIN, then Finger print Identification along with PIN for the Customer can be better introducted by installing required gadgets in the ATM machines. This will check the fraudulant action in it. more  
Let banks strengthen their system base to protect the ATM users - more  
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