JBA has been alarmed by the scale of the recent trend of illegal withdrawals using counterfeit cash cards and recognizes this to be an enormous threat to the safety of deposits and creditability of banks among their clientele. Consequently, the board of JBA established the following agreement on January 25.Agreement on Cash Card Counterfeiting CountermeasuresThe banking industry recognizes that illegal withdrawals using counterfeit cash cards is a serious problem that threatens the safety of deposits and can jeopardize the confidence customers place in banks.Cash cards are a common convenience for accountholders to access their accounts and each financial institution is diligently working to ensure safe transactions for our valued customers.We hereby agree to strengthen our efforts by requiring each bank to actively implement the following countermeasures.
1.To prevent the use of counterfeit cash cards
- Enforcing PIN security
- Enabling the PIN to be changed more easily
- Proactively implementing measures to prevent improper viewing of ATM screens
- Warning against easily predictable PIN numbers
- Warning against using a safe deposit box ID number identical to one's PIN
- Recommending periodic changing of PIN
2.To prevent the production of counterfeit cash cards
- Introducing new systems in place of magnetic strip and PIN
- Introducing cards with an IC chip
- Identifying depositors at ATM by using biometric identification
- Calling for stricter management of cards by customers
- Warning to carefully manage cash cards
3.To prevent the accumulation of damage caused by counterfeit cash cards
- Lowering the upper limit on daily withdrawals using cash cards
- Introducing a system that enables depositors to limit withdrawals per transaction/day
- Lowering the limit of withdrawals per transaction/day
- Monitoring
- Introducing a system for early detection of unusual transactions
4.In the event that customers suffer damage
- Cooperating proactively with police investigation
- Immediately filing a damage report
- Extending the storage period of video-tape recorded by surveillance cameras
- Exploring the possibility of compensation
- Diligently dealing with problems in light of rules and laws
- Introducing insured deposits