An article relating to this blog post on Finextra:
RBS WorldPay ATM heist nets $9 million in 30 minutes
RBS WorldPay, the US payments processing arm of Royal Bank of Scotland Group, allegedly lost $9 million in a 30-minute period during a global ATM heist that involved 100 cloned cards in 49 cities worl...
"An attorney in Atlanta has filed a class-action lawsuit against RBS WorldPay for allegedly failing to protect personal information."
This problem can be eliminated altogether by allowing cardholders to turn on and off their cards. Many issuing banks have realized this. See
http://www.finextra.com/fullstory.asp?id=19597, Handelsbanken puts locks on cards.
All ATM authorizations eventually go to the Issuing Bank's authorization system. This system needs to be implemented with the Issuing Bank.
This class-action lawsuit against RBS WorldPay is misplaced since the real solution to this problem lies with the Issuing Banks.
Regarding Handelsbanken, some banks are making it easier for me to market the system that I invented. I have written to Handelsbanken just as I did to other banks and other companies.
This is a great validation of my years of work on this patented system. VISA filed for the same 'claims' but 14 months after I did. I received the patent for my applicationn in August 2005. Worldwide PCTs have been filed based on the same priority date (Feb
2001) as the US Patent.