Fraudsters Trying to Capture Bank Cards at Machines
October 22, 2009
Total Loss:
$370,000
If your cash card gets eaten by the automated-teller machine, it may not end up in the hands of a bank employee. European financial institutions are seeing a sharp rise in card "trapping," where criminals use various tricks in order to capture and retrieve a person's ATM card for fraudulent use. For the first half of this year, financial institutions reported 1,045 trapping incidents, according to a new report from the European ATM Security Team (EAST), a nonprofit group composed of financial institutions and law enforcement. The figure, which covers 20 countries within the Single Euro Payments Area (SEPA), represents a 640 percent increase over the first half of 2008.
Source:
PC World
Posted in:
Debit Card Fraud