Unsecured Banks!

According to Dawn News NBP has suspended inter-bank ATM service after finding out some one have cracked PIN codes and hardware security models of their system. According to news there is chances that employees of bank are also involved in this incident and one of employee of NBP at Headquarter in Karachi, in charge of hardware security of the bank's online money supply service, had disappeared. It is useless to say that he is having lot of information about accounts and PIN codes.

Being an  IT professional, I know the each and every information we stores in databases. But such crucial and sensitive information are stored in database after encryption (converting into codes, so no one can read without decoding) and a security layer must be deployed to make those information secure. Like, if some one knows the encryption algorithm or knows how to encrypt information then he/she should not be able to access the actual data. And the person who can access the actual data should not know how to decrypt these information.

But this incident depict the culture we have in our banks. I am afraid that our banks don't follow standard securities policies laid out by international standard organizations. This mean any smart person (we have lot) in IT department of a bank can crack any thing ... and can do any thing.... you can imagine!

Should I trust on bank? or deactivate my debit card, ATM card, Tele Banking, Online Banking, and Mobile Banking? means send me 5 - 10 years back?

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