Bank losses from debit and automated teller machine (ATM) card fraud are relatively small, but banks are already taking steps to prevent the problem from worsening any further. Aware that criminals can be very creative and resourceful in perpetrating their scams, the banking industry has begun evaluating various alternatives in its war against fraud. These include the use of smart cards, card verification systems, the truncation of numbers on receipts, biometric devices and even low-tech identification methods.
With new techniques like shoulder surfing and fake ATMs, criminals are