We also observe that banks only very rarely resort at the same time to the Eurosystem’s credit and deposit facilities. This shows that geographical borders are not an obstacle anymore to shift liquidity in the banking system quickly and efficiently. Integration has also advanced in the repo-market, probably one of the most dynamic segments of the money market.
The stolen information was used to clone the cards to withdraw cash from various locations across the country. There was certainly a breach of security at the ATMs where the data was compromised. It is important that bankers need to ponder on how to tackle this issue through technology.