Mike kept a record of his PIN in an electronic organiser. The PIN was not disguised but was secured by a password. The organiser and his wallet he had in a brief case while he was on the train. While he was engrossed in reading the paper a thief stole the brief case and exited the train. The next stop was half an hour away. Mike got out of the train and contacted the police and The Bank straight away. In the meantime, however, the thief had managed to bypass the password and open the Electronic organiser. He obtained Mike's PIN, and used the card to withdraw large sums of money from an ATM.

(a) According to the ePayments Code Mike will have to bear the entire loss due to his careless protection of

his PIN.

(b) According to the ePayments Code The Bank will have to bear the entire loss due to his efforts to protect

his PIN.

(c) None of the above answers are correct.

*It can be more than 1 correct answers.

Please explain your selected answer.