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How ATM fraud nearly brought down British banking • The Register
Posted by Alex on 21 Oct, 2005 in My Stream | 0 comments
http://www.theregister.co.uk/2005/10/21/phantoms_and_rogues/
From the page: “This “gave me major concern,” says Kelman. “The security of the entire ATM network upon which the UK banking system was based was predicated on nobody knowing your PIN.” He could see that if this reached the media, people would begin comparing PINs, and on finding identical ones would tell others, and the security system used by the banks would collapse overnight. Then there would be a dramatic run on the banks as everyone tried to take their money to a safer place, such as under the mattress.”
A good story!