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.
Chuck Groat, VP of bankcard risk management at Zions Bank, says his department has spent the New Year just trying to keep up with compromises - including the latest pay-at-the-pump attacks.
Losses linked to debit fraud now exceed losses connected to check fraud, according to a new survey by the American Bankers Association. How are banks responding to the threat?
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?
U.S. and European institutions can learn from DBS Bank's example. In response to a rash of fraudulent withdrawals that cost accountholders $1 million, the bank is launching a new SMS/text alert service for ATM transactions.
New York law enforcement authorities have announced the arrest of a Romanian national and the takedown of an ATM skimming scheme that compromised more than 40 ATMs at HSBC bank branches in Manhattan, Long Island, and Westchester, N.Y.
Financial institutions still have a long way to go to fight fraud and mitigate online banking vulnerabilities. But what exactly are the top vulnerabilities, and what can institutions do about them?
According to court records, Sabrina Matache and her co-conspirators collected PINs with hidden pinhole cameras installed near compromised ATMs at People's United Bank branches in Connecticut.
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