Four Friends From NYU Charged With Ripping Off Banks

Armed with tons of ATM cards and a little-known federal regulation, four old school pals stole $422,000 from Brooklyn banks, prosecutors said Tuesday. The four, three of whom were buddies at NYU, exploited a regulation that requires banks to repay customers who claimed their ATM cards were lost or stolen within 10 days, Brooklyn District Attorney Charles Hynes said. Among the banks ripped off were HSBC, where two of the suspects worked, Chase, and Signature Bank. Posted in: Debit Card Fraud