Chuo Mitsui Trust to limit ATM withdrawals to Y2 mil per day

Would need to take out 2,000,000 yen in one day?

 

is that when Chuo Mitsui Trust and Banking Co. goes bust, this new policy will limit customer withdrawls, prolong the ensuing run on the bank funds and therefore give the directors just enough time to siphon off the saving, pack their o-bento and run for the hills.

 

"... on the news that they now have scanners (they being the criminals) that can scan your card without even touching it."

This is not technically heard of with magnetic stripe cards and IC cards. It would be possible on future RFID cards and these would make undetected fraud much easier.

What worries me is that the current magnetic cards' security must have been compromised - how else would anyone be able to decode my PIN from the card alone?

The banks are not upfront about this (fear a run?). For any new technologies, what are the chances until they get compromised, too? Same result, matter of time, I am afraid; unless we get our society and each of us to grow up (yes, also bankers, politicians and other movers and shakers). All the technology in the world will not prevent substantial misuse, witness the ease of the ore-ore scams. Or are we watching a hidden agenda unfolding?

 

"... on the news that they now have scanners (they being the criminals) that can scan your card without even touching it."

Acdording to the NY Times, they have to be within 20 cm of the card, unless they're carrying a huge generator on their back.

 

too scary...