Apr 3, 2006

ATM scams in New Zealand spark call for smart cards

New Zealand's first ATM skimming fraud has triggered suggestions banks should follow overseas examples and combat the crooks with smart cards.

The head of New Zealand's consumer protection agency said that because the big banks had not suffered ATM skimming until now, they had been "lulled into a sense of false security" and that the introduction of smart cards would "certainly help" in fighting card fraud.

A spokesman for New Zealand's debit card processor, Paymark, said, "It'll be bloody dumb not to keep up ... it's an inconvenience to the consumer, but once you've established you have been ripped off the banks are the ones that lose out."

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