A Bulgarian econometrist from Belgium believes that he has come up with a simple solution to render impossible ATM fraud leading to credit and debit card draining.

Stoyan Balabanov, who has been living in Belgium for 30 years, has returned to Bulgaria to present his idea, and to seek assistance.

"Nobody, not even the bank, has your card PIN, it's only in your head," Balabanov told the bTV channel upon presenting his idea.

His proposal consists of an electronic table with double digit numbers on four rows that is supposed to appear on the screen of the ATMs. Thus, instead of punching in the four digits of the bank card PIN, the client would select the row of their PIN.

"The ATM screen will show a combination of digits. Your PIN is always four-digit, which means that it consists of two double-digit figures. You check out which row has your first double-digit figure, and press the respective button – which stands for the number of the row. If my PIN is 37 61, I would have to press 1 and 4 here. Tomorrow, your PIN may be on row 1 or 2, or 3 or 4," Balabanov explained during his demonstration.

The econometrist is reported to be in talks with one of the largest global software companies for the utilization of his anti-ATM skimming idea but he is seeking a sponsor in Bulgaria because of the low taxes.