Japan mulls bill putting ATM card theft onus on banks

Japan mulls bill putting ATM card theft onus on banks
Tags: Bank / Credit Union, Security
June 2, 2005

Japan Times: Lawmakers from Japan's two leading political parties agreed June 2 to a bill that would require financial institutions to compensate depositors for losses incurred from stolen or forged cash cards, unless the users are mainly at fault, officials from the two parties said.

The number of bank card crimes has surged in the past year and has made bank customers worried about the security of the ATM system.