things this reveals
1. banks internal network is not secure.
2. ATM's actually have code to 'spit' out cash without a card. and also spit out more than a few hundred at a time
3. bank accounts can 'add balance' without the account checking where the funds originated
i think banks have admitted too much about how in-secure they are.
banks should take a lesson from blockchain tech about point 3. blockchain cant just add balance without showing source of funds
That's a really accurate analysis. What makes it hilarious is that the banks argument against Bitcoin is that it is money created out of 'thin air', while this article suggest that it's even more true for banks and thus fiat.
Everything within world wide web is not 100% secure. Banks are no exceptions. So when it comes to the security of people's money, banks can't give us peace of mind. And the argument is another different story altogether and can't be linked with this news.
Banks will not leave any single chance to demoralize crypto user by saying fake things because it is directly affecting their business. Also we can't deny that fact that cryptos are now being used as a medium of money laundering. So that's a risk factor for common people in general. But we can't expect everyone to be perfect. So this kind of matters will keep popping up every now and then.