Here is an extract from the IBTRM (Internet Banking and Technology Risk Management Guidelines) June 2008 published by MAS (Monetary Authority of Singapore) :
11.0.3
"PIN should be at least 6 digits or 6 alphanumeric characters, without repeating any digit or character more than once."
Can you see what is wrong with the above recommendation? Well, if you do not get it, I will explain in the next post.
The full guideline is available via:
http://www.mas.gov.sg/legislation_guidelines/banks/guidelines/Internet_Banking_Technology_Risk_Management_Guidelines.html
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