India's biggest public and private sector banks have admitted that hackers have gained access to 3.2 million debit/ATM cards. Fraudulent transactions were carried out in the US and China on Indian cards. We have not been told whether all those who have lost money will be automatically recompensed or, as is usual in India, banks will try to minimise losses by bullying customers by making them try to prove that they were not responsible for the loss of confidentiality. The breach occurred in the Hitachi Payment Services, used by banks, in May but customers were not informed till now. The Reserve Bank has granted licenses to new payments banks which will offer services through mobile phones. If physical cards, which need individual pin numbers to work, are so easy to hack how stupid would it be to entrust our money to mobile phones? For even more convenience banks in the west have done away with pin numbers and have introduced contactless cards. But whose convenience? If people are forced to stop using cash then every transaction will go through banks which means we will have to pay for everything we do, which will increase their profits several fold. Worse, police will be able to find out every detail of what we have bought, where we have been and whose services we have used. A most terrifying outcome. Naturally, thieves are one step ahead. They have developed machines which can read cards inside pockets or handbags. Not just that, these cards can be used by thieves months after they are reported as lost or stolen. Banks refund full amount on money lost on contactless cards, which then raises the question as to how much profits they must be making on these cards. Yesterday, hackers interrupted services of popular internet services Netflix, Twitter, Paypal and Spotify, used by billions of people. How did they do it? Apparently, by using webcams, baby monitors and digital recorders to send billions of messages which overwhelmed the system. As politicians and their henchmen go full speed to convert the economy to digital, to increase their own power and wealth, they do not care for our safety or dangers to our children. Instead of creating wealth Artificial Intelligence will result in the loss of millions of jobs. Noted scientist, Steven Hawking, recently warned that AI could go rogue and wipe out life on earth. However, scientists and economists seem to miss a much simpler point. Which is that AI has to be logical at all times while human beings are illogical. Thus, a robot doctor may refuse to transplant a kidney from a healthy parent to a sick child because it may find it illogical. Why are journalists supporting politicians when it is so dangerous? Are they paid, or just stupid?
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