Thursday, May 3, 2012
Counterfeit Currency in ATMS
The Counterfeit currency is reaching the ATMs due to lack of proper mechanism of checking for geniune currency notes. The ATMs are either refilled by banks or by specialized agencies for cash refilling. ATM have definately helped us to access instant money from anywhere in the world by entering a card and pin. ATM is not only conveinence for the customer but also for the bank as it reduces the human interaction and hence the cost to the bank. Here is an interesting read at Moneylife for " Fake currency notes from ATMS: what needs to be done"