$1 Million ATM Fraud Scam Busted

Zoweee!  Some key aspects in this article. 

http://www.cuinfosecurity.com/articles.php?art_id=4274

First, ONE DAY of skimming yielded about 350K in losses.  A single Sunday the criminals used a skimmer and pinhole camera to collect just 350 acct and pin numbers.  Then they pulled about 1000 from each account.

Second, in many of these cases, it's the CUSTOMERS bringing attention to the cases, not the banks or law enforcement folks who solve the crime.  Interesting that we are still relying on ourselves to solve this type of crime.  Be very observant when you use your ATM machines.

Finally, it seems, according to the article that there is an explosion of ATM Skimming crimes with no real end in site.  The crimes are small enough that legislation to combat the problem wont be reviewed for a long time.  This means the problems will persist.

News 9 in Colorado on Skimming Devices in Area

Interesting video article on the use of skimming devices recently in Colorado. 

http://www.9news.com/video/default.aspx?bctid=1265391195001&odyssey=modtvideoendslate
 
I think the hidden story here is how most manufacturers attempt to correct for the problem.  Very costly to install, replace the ATM, replace parts of the ATM, or train the consumer.  Hmmm..
 

ATMs Hit by Cash Trappers

Hmmm.  Here's a not-so-new approach to an old crime.  The cash trap has been a known crime for some time, but it's interesting that in EU, there is a DROP in skimming attacks at the same time an INCREASE in the cash traps.

In US, by many accounts, it seems the skimming is on the rise, along with several other crime (cash traps, smash and drags, etc.)...

See the full story here...

http://www.cuinfosecurity.com/articles.php?art_id=4169&opg=1