Organized thieves are creating fake cards using stolen information and using them to withdraw cash and make expensive purchases. Apparently secret PIN is getting stolen too either because Korean cardholders often share it with store clerks, friends, and collegues. It is also a common practice to lend your friends and family your credit card as a friendly gesture. One can also overhear secret PINs being spoken out loud if you stand near a POS station at any department stores. Result is 11 million bankcards having to be reissued by a Korean farmers co-op bank. Kookmin Bank is also seeing evidence of large scale bankcard security compromise. Looks an environment for massive switchover to smartcard is being created.