A recent ATM fraud scheme that targeted banks in three states illustrates just how sophisticated ATM attacks have become, experts say. Learn how fraudsters are increasingly keeping their skimming schemes concealed.
A recent ATM skimming scheme linked to the theft of hundreds of thousands of dollars is an indicator of a coming surge in this type of fraud, experts say. Learn about the causes of this trend.
ATM-related fraud is increasing in the United States, and experts say losses will continue to grow until the market achieves widespread adoption of cards using EMV chip technology and phases out magnetic-stripe cards.
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
Financial fraud expert Joe Rogalski explains why card issuers are ultimately responsible for losses linked to ATM cash-out schemes, like the $45 million worldwide cyberheist that made headlines last month.
A recent ATM cash-out scheme that netted $45 million puts a spotlight on the need for preventive measures, says John Buzzard of FICO's Card Alert Service. He offers several fraud mitigation tips.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
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's alert to U.S. card issuers about increasing global ATM cash-out schemes should serve as a warning of bigger scams to come, says ATM expert Nicole Sturgill. Why are cash-out incidents on the rise?
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?
Card fraud experts say more guidance for ATM security best practices is needed. But are recommendations from the PCI Council the answer? Industry security leaders weigh in.
Jenny Durkan, the U.S. Attorney for the Western District of Washington, is taking a lead role in combatting cyberfraud. Under her leadership, federal prosecutors have upped their efforts to combat ever-increasing threats posed by digital crimes, including card fraud.
U.S. banks are well-aware of the fraud vulnerabilities magnetic-stripe cards pose, yet few have made moves toward chip technology. The time for stalling is over.
A federal court has handed down a five-year prison term, plus restitution, to a Seattle man who targeted Chase ATMs in a four-state skimming scheme. Is this a sign sentences are getting steeper?
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