An article relating to this blog post on Finextra:
UAE banks to roll out iris scanning
Banks in the United Arab Emirates are reportedly set to introduce iris scanning technology at the ATM, following a recent surge in cash machine fraud across the country.
This kind of news actually make the Central Bank of UAE and authorities in the UAE truly 'seem' uninformed. Anyone in the payment security business (fraudsters as well) know that this will not solve the ATM fraud problem.
IRIS scanning is a costly solution as it is quite expensive to equip ATM machines with this capability. But what makes it a non-feasible solution is that (iris-scanning security) will only work if ALL of the ATM machines in the world will require authentication
by scanning the IRIS.
What will iris scanning accomplish? How will it solve the ATM fraud?
So what if a UAE cardholder can authenticate himself when doing an ATM transaction with his Iris? How would he authenticate himself when he does an ATM transaction outside of the UAE? Answer : Back to pincode. Where are fraudsters using these cloned cards?
Mostly outside of the country the cards were issued. So will IRIS scanning stop fraudsters from skimming cards? Answer is NO.