All bank account holders cannot be expected to be literate. Therefore, it is the bounden duty of banks to devise ways and means to ensure a foolproof system (Editorial – “The perils of plastic”, Oct.25). They cannot abdicate their responsibility by shifting the blame to account holders for not following instructions. Two-way verification, which is done in the case of online payment, can be the effective remedy to prevent debit card fraud. Besides, service providers of debit cards should ask customers to use card swiping machines in a booth that is under surveillance. For international debit cards, monetary limits may have to be revised downwards to reduce risks.
S. Srinivasan,Chennai
That debit card data is vulnerable shows the lack of preparedness by banking firms in protecting customers. Banks shouldn’t be reluctant to adapt and invest in modern IT measures. The Reserve Bank of India should have dedicated IT cells.
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The RBI must step up vigilance of the functioning of white label ATMs. At present there is no mandatory requirement to change the password for debit cards and people continue using the same password for years altogether. To enhance security, banks should also introduce a one-time password for ATM transactions beyond a threshold limit.
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