14 Feb '12, 1pm

Biometric recognition for ATM cards could be a thing of the future: "In deciding which secu...

Biometric recognition for ATM cards could be a thing of the future: "In deciding which secu...

SINGAPORE - Biometric recognition for ATM cards could be a thing of the future. The Monetary Association of Singapore (MAS) has been working with the financial institutions on card security enhancements since 2010 - and one of its objectives is to figure out ways to reduce the risks associated the magnetic strips on ATM cards. RELATED STORIES All ATM cards to have secure smart chips installed by 2014 Finance Minister Tharman Shanmugaratnam was responding to a question from Member of Parliament, Ms Ellen Lee, in Parliament today. Ms Lee asked about the possibility of MAS requiring banks to use fingerprint or biometric recognition to replace magnetic strips in ATM cards. While the Minister did not rule out the possibility, he said a number of security features are already in place for credit and debit cards transactions such as one-time passwords and SMS alerts. He said: "Th...

Full article: http://www.asiaone.com/News/Latest%2BNews/Singapore/Story...

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