Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.
Gary Warner, a computer forensics researcher at the University of Alabama at Birmingham, says malware aimed at POS systems isn't likely to affect ATMs. But others say the threat to ATMs is viable.
Visa has warned U.S. payment card issuers to be on the lookout for global ATM cash-out fraud. What are the signs banking institutions should monitor to help detect, prevent and report these schemes?
Banks and credit unions say losses linked to card-skimming are a growing concern. Why are skimming attacks successful, and what can be done to thwart the threats?
Card skimming at ATM vestibule access doors is a source of increasing concern for financial institutions and law enforcement agencies. What new security measures should institutions take?
What security vulnerabilities are exposed by recent skimming attacks at eight Toronto hospitals? Fraud experts say there are lessons to be learned when placing ATMs outside traditional bank locations.
ATM skimming losses are down at European banks. But the low-tech scheme of cash trapping is on the rise. How should banking institutions respond to this latest fraud trend?
The compromise of bank cards at two banks in New Zealand has garnered attention to the growing ATM fraud trend. What are the banks and law enforcement doing to address the losses?
What do the latest international fraud arrests prove? "Organized crime isn't running, but they are definitely looking over their shoulders," says Robert Siciliano, a financial security expert.
Following the DBS Bank skimming attack, banking regulators now demand more protections for accountholders. What can be gleaned from the new security controls institutions have deployed?
In a U.S. ATM skimming case with ties to a Romanian crime ring, Ismail Sali confessed to bank fraud, conspiracy, access device fraud and aggravated identity theft. What sentence does he now face?
Detectives have arrested seven suspects and seek 13 more in an ATM skimming investigation involving hundreds of credit and debit cards compromised in parts of Canada, the U.S., Australia and Indonesia.
When Canadian police raided the homes of 12 suspects, they found stunning evidence of a major payment card skimming scheme involving ATMs and pay-at-the-pump gasoline terminals in Greater Toronto.
The Europay, MasterCard, Visa standard, commonly used in most global markets, is coming to the U.S. The sooner issuers, acquirers and merchants initiate migrations, the better, says Stephanie Ericksen, head of authentication product integration at Visa.
Skimming is a global epidemic, experts say, and global fraud losses linked to skimming will grow in 2012. So how will retailers and financial institutions respond?
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