Associate Professor Enoch Ch'ng of SMU School of Information Systems opined that although using smart card technology to embed a computer chip into a bank card would be the best prevention against ATM fraud, but high cost and durability of the chip are the main drawbacks of this measure. Some better approaches would be for banks to install anti-skimming devices of different shapes and sizes at irregular intervals, conduct regular checks on the ATM outlets and use a token that employs multi-factor authentication for safer online transactions by the customers/account holders.
Shin Min Daily News