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Expert Stresses Need To Switch To IC Cards
TOKYO (Nikkei)--Bank and credit cards should be changed to IC cards as soon as possible from magnetic ones to prevent counterfeiting, Katsuya Uchida, executive director of the Japan Society of Security Management, said Tuesday.
"In France, the switch to IC cards a decade ago has resulted in a sharp decline in this kind of crime," Uchida told a panel discussion in Tokyo, referring to a recent surge in the use of forged cards to steal large amounts of money from bank accounts without the knowledge of depositors.
He also noted that, unlike the U.S., unnecessary turmoil has been caused in Japan because the country's regulators do not clearly delineate the scope of responsibility of consumers who are damaged by the illegal use of their cards.
Masanobu Katoh, corporate vice president of Fujitsu Ltd. (6702), said Japan will have to clarify the ultimate bearer of risk in regard to this new type of crime.
Uchida and Katoh were speaking at a discussion on "How to Protect the Security of Networks in the Digital Home Era," held as part of the Global Information Summit, an annual forum organized by Nihon Keizai Shimbun Inc.
Thomas Manessis, division head of Visa International's Emerging Opportunities Group, said credit card companies have been striving to improve security by adopting IC cards and bringing greater safer to their settlement systems.
It is vital for the companies to stay ahead of counterfeiters by pursuing better security technology, while at the same time trying to make the cards more user friendly, Manessis said.
(The Nihon Keizai Shimbun Tuesday evening edition)
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